Singapore mainboard-listed global distributor and marketer of fresh fruits and vegetables SunMoon food Company Ltd. gave China’s Shanghai Yiguo E-Commerce Co. Ltd. the go signal to inject $24 million fund in the group. According to the group, the investment by Yiguo will help further cement it as a global distributor and marketer of branded high quality fruits and food products…Full Article: Singapore Business Review Oct 2016

Key Point

  • As a result of the S$24 [~US$17.25 million] investment, SunMoon will issue 333.3 million new shares at 4.5 cents per share with 33.3 million free warrants going to Yiguo.

ChinaAg Comments

  • Founded in 2005 and headquartered in Shanghai, Yiguo E-Commerce is an e-commerce platform that focuses on selling of food products including fruits (domestic and imports), meat (e.g. beef, pork, lamb), poultry eggs, dairy, seafood, vegetables, processed foods (e.g. snacks, frozen food, sausages, sauces, etc.), juice, and wine. In March 2016, Yiguo E-Commerce received an undisclosed amount of financial investment from KKR (private equity firm) and Alibaba (shareholder of Yiguo).
  • Founded in 1977 and headquartered in Singapore, SunMoon Food Company is a fresh fruit distributor whose product line includes apples, pears, cherries, grapes, strawberries, longan, mangosteens, peaches, nectarines, fruit juice, and processed foods (e.g. fruit cups, snacks, frozen food).

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