Date
20 October 2017

China Seed Int’l in recapitalization move, paper says

China Seed International Seed Co. Ltd., formerly known as Zongzhong Dika Seed Co. Ltd., has boosted its registered capital to 480 million yuan (US$79.15 million) from 100 million yuan, National Business Daily reported Tuesday, citing a statement from the Ministry of Agriculture. The new entity will integrate Zongzhong Dika’s corn business and take charge of research, production and sales of Monsanto’s Dika corn seed business, the report said. China Seed, which is said to have become the largest seed company in the country, will help Monsanto expand in the Chinese seed market, an industry insider was quoted as saying. Zongzhong Dika Seed had been set up by China National Seed Group and US-based agri-business giant Monsanto.

– Contact HKEJ [email protected]ght.com

TL/MY/RC

 

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