On Dec.12th, Sinochem Hong Kong Holdings (Code:0297) changed its name to Sinofert Holdings Ltd. The short name of the company became “Sinofert” from “Sinochem HK”. The trading code (0297) kept unchanged.
On Nov.16th, the special shareholder’s meeting approved the resolution to change the company’s name. After all the legal proceedings, the company’s new name was enacted on Dec.12th.
On July 28th, 2005, Sinochem Hong Kong Holdings has purchased Sinochem Corporation’s fertilizer business and was listed in Hong Kong Stock Exchange. It was China’s first overseas listed company focusing on agricultural input business and ranked the 7th among its peers globally in terms of the total capitalization. Since its floatation, Sinochem Hong Kong Holdings has won the acknowledgement from the investors. PotashCorp has increased its shareholding of Sinochem Hong Kong Holdings in Jan.2006 to become the company’s second biggest shareholder. In July, 2006, Sinochem Hong Kong Holdings issued the convertible bonds with the denomination of HKD 1.3 billion.
Sinofert is China’s only integrated fertilizer company equipped with nitrogen, phosphate, potash, compound fertilizer manufacturing capability. It owns more than 1300 distribution centers which cover 21 Chinese provinces and 75% of China’s arable lands. In 2005, Sinofert produced and imported more than 11 million tons of fertilizer products which accounted for 12% of China’s total demand.