Move comes after restructuring of parent company’s capital
Adisseo, a global leader in nutritional solutions and additives for animal feed and one of the main subsidiaries of China National Bluestar (Bluestar), is now quoted on the Shanghai Stock Exchange. This comes after the restructuring of the capital of Bluestar New Chemical Material Co. Ltd. (BNCM), a listed vehicle that is also part of Bluestar. Thanks to a simultaneous asset exchange whereby Adisseo replaces BNCM’s existing assets, Adisseo is in a position to access Chinese capital markets to finance its ambitious development projects.
“This unprecedented public listing in Shanghai is the recognition of Adisseo’s excellent performance and a wonderful opportunity to achieve our long-term objective of firmly establishing Adisseo as a key player in the health and nutrition segment,” said Jean-Marc Dublanc, GM of the newly listed company.
The group is listed as BNCM with ticker symbol 600299. The legal entity will be called Bluestar Adisseo Co. About 90 percent of the company is still owned by Bluestar with the floating owned by minority shareholders.
“We are delighted to have such a financially healthy, international company as Adisseo in our portfolio and now listed on the Shanghai Stock Exchange,” said Ren Jianxin, the chairman of China National Chemical Corp. and the chairman of China Bluestar. “Adisseo has achieved profitable growth since we acquired the business in 2006 to become one of the world’s top leading manufacturers of nutritional solutions for animals present on 5 continents.”
Future proceeds will also enable Adisseo to continue to invest strongly in research and development in addition to the optimization of the performance and sustainability of its production platforms and to finance its external growth that will complement its ongoing successful organic development.