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(From SinoCast China Business Daily News)
NANNING, October 18, SinoCast -- Nanning Sugar Manufacturing Co., Ltd. (SZSE: 000911) said that the company's rights issue application had been approved by the China Securities Regulatory Commission. The prospectus for the rights issue will be published in the near future.
The sugar industry in Guangxi covers half of that in China. Nanning Sugar Manufacturing is one of the biggest sugar manufacturers in Guangxi. Its registered capital is CNY 240.8 million and its sugar production amounts to 10% of the whole output in Guangxi, 4% of China's total output. Its annual sales exceed CNY one billion. …