DCSX has approved the listing of 300 million trade-able shares of Kunde International Limited (DCSX Symbol: KDGJ) @ USD 0.23 with an initial market capitalization of USD 69 million. Biztrack Consultants Private Limited is the mandated Listing Advisor.
Kunde International Limited (the holding company) was incorporated in the British Virgin Islands on 23 April 2020 with a BVI company registration number 2035225. The sole purpose for its incorporation was to hold 100% of the equity capital of Yunnan Kunde, be the holding company of the group, for the purpose of the Listing. In connection with and for the purpose of the Listing, Existing Shareholders restructured their interests in Yunnan Kunde (i.e., the Restructuring). The purpose of the Restructuring was so that Existing Shareholders hold their interests in Yunnan Kunde indirectly through their shareholdings in the Company in the proportion of their interests in Yunnan Kunde prior to the Restructuring. The Restructuring was completed on 7 August 2020. The corporate structure of the Group on completion of the Restructuring is as set out in paragraph 2.4 of the Information Memorandum.
The Group’s principal business, which is carried on by its wholly-owned subsidiary Yunnan Kunde, is the sale and marketing of Astaxanthin Products. The current line of products which it sells and markets comprise of solid beverages, pressed candies, and skincare products. Its operating headquarters and principal place of business is located at Kunming City, Yunnan Province in China.
On January 2020, Yunnan Kunde launched an e-Commerce platform which enabled it to connect its distributors with the consumers directly through this platform. The launch of this e-commerce platform laid a solid foundation for the market expansion and customer accumulation for Yunnan Kunde. Directors are bullish on the prospects of the big health industry in China and believe that the Group’s products and business model is suitable to propel its growth in the near term. The Company is confident that it is able to promote its Astaxanthin Products to more consumers in China. Directors have set up an internal growth target for planning purposes covering five years up to the end of 2024.
The Company’s application to DCSX is to list the Shares on DCSX by way of an equity listing. No new capital will be raised by the Company as a result of the Listing. Nonetheless, Directors believe that the listing of the Shares is beneficial because it will:
Further details about the business (including the Information Memorandum) can be found on our Markets page on this website under Equities Symbol KDGJ, section Company Information.