SunMoon taking 51% stake in China fruit-selling venture

Singapore

SUNMOON Food Company wants a bite of the fruit-selling business in China. It has proposed to acquire a 51 per cent stake in Harvest Season Singapore, having entered into a conditional sale and purchase agreement to acquire 510,000 ordinary shares in the latter.

This will be paid for through an allotment and issuance of 60 million new ordinary shares in the capital of SunMoon to vendor Fresh Fresh; this constitutes approximately 18.82 per cent of SunMoon's current issued share capital.