NEW YORK and BEIJING, China, March 7, 2011 /PRNewswire-Asia-FirstCall/ -- Zhongpin Inc. ("Zhongpin," Nasdaq: HOGS), a leading meat and food processing company in the People's Republic of China ("China"), today announced that it has begun a follow-on common stock offering. Zhongpin will offer 5 million shares of common stock and non management stockholders will offer 530,000 shares of common stock, with an over-allotment option of up to 15 percent of the offering size.
Credit Suisse Securities (USA) LLC is acting as the sole bookrunner for the offering and Cowen and Company, LLC, Oppenheimer & Co. Inc. and Maxim Group LLC are acting as co-managers. The offering is subject to market conditions and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
The offering is being made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission on December 10, 2010, amended on January 12, 2011, and declared effective on January 31, 2011. A prospectus supplement relating to the offering has been filed with the Securities and Exchange Commission.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such state or jurisdiction. The offering may only be made by means of a prospectus supplement and related base prospectus.
Zhongpin Inc. is a meat and food processing company that specializes in pork and pork products, vegetables, and fruit in China. Its distribution network in the China covers 20 provinces plus Beijing, Shanghai, Tianjin, and Chongqing and includes more than 3,300 retail outlets. Zhongpin's export markets include Europe, Hong Kong, and countries in Asia. For more information about Zhongpin, please visit Zhongpin's website at http://www.zpfood.com.
For more information, please contact:
Mr. Sterling Song (English and Chinese)
Investor Relations Manager
Telephone +86 10 8286 1788 extension 101 in Beijing
Mr. Warren (Feng) Wang (English and Chinese)
Chief Financial Officer
Telephone +86 10 8286 1788 extension 104 in Beijing
Mr. Tom Myers (English)
Mobile +86 139 1141 3520 in Beijing
Ms. Kathy Li (English and Chinese)
Telephone +1 212 618 1978 in the USA
SOURCE Zhongpin Inc.