Guizhou dairy company reports IPO preparations

SASAC of Guiyang officials listen to the latest update on IPO preparations by Guizhou South Dairy Co on Aug 11. [Photo/guiyang.gov.cn]

Han Rong, Party committee member and deputy director of the State-owned Assets Supervision and Administration Commission of Guiyang (SASAC of Guiyang), led a group to inspect the listing progress of Guizhou South Dairy Co on Aug 11.

Guizhou South Dairy, affiliated with Guiyang Agricultural Investment Development Co, has completed asset restructuring for its planned company listing. Both of the companies reported their work progress at the meeting, as did CITIC Securities, Da Hua Certified Public Accountants and DeHeng Law Offices, which are also involved in the process. They gave opinions on what to do next and how to do it well based on their work responsibilities.

According to Guiyang Agricultural Investment Development, it has set up a special working group that has clarified a timeline for the listing, developed a roadmap and appointed essential tasks at each stage.

Han fully affirmed the pre-IPO work. He said that he hopes Guiyang Agricultural Investment Development will continue to do well in the next stage and that it should adhere to a problem-oriented approach to solve difficulties, following laws and regulations while speeding up the listing process.

He added that the company must improve the working mechanism, strengthen coordination and hire listing intermediaries as soon as possible to receive professional guidance. The pre-IPO work must be done well and make adequate progress towards the goal of a successful listing in the first half of 2022.

Finally, Han said that more resources should be allocated to Guizhou South Dairy Co before it is listed. Relevant favorable policies should be fully utilized to support the listing work, promote healthy corporate development, and drive the agricultural industry's leapfrog development.