China New Energy and China Biofoods are expected to begin trading this week on PLUS Market, a UK-based trading platform for shares of small to mid-cap companies.
AIM-listed London Asia manages a £50 million China-focused fund which invested in China New Energy and China Biofoods. To date, London Asia has invested £2.2 million for a 25 percent stake in China New Energy, a supplier of technology solutions for ethanol, edible alcohol and acetic acid production.
China New Energy made its debut on PLUS at 522.5 pence a share on 6 Septmber, giving it a market capitalisation of £35 million. The listing is aimed at raising capital to take advantage of an expanding ethanol market, in and outside of China.
China Biofoods, a producer of highly purified herb extract products, is expected to begin trading today at 175 pence a share, which will in turn give the company a market capitalisation of £12.5 million.
In June, London Asia invested £2.1 million for a 31 percent stake in Biofoods. The producer is looking to expand its product range, and seeking partners to sell their products overseas.