Vitasoy International (00345) said it won the public tender for the acquisition of the land use rights of a piece of state-owned land with a net land area of about 105,000 square metres located at Yangluo Economic Development Zone, Xinzhou District, Wuhan City, Hubei Province for Rmb30 million.
The nature of the land use rights of the land is for industrial purpose. The term for the land use rights is 50 years from the date of the delivery of the land.
The company intended to invest about Rmb500 million into a production base to be constructed on the land.
Vitasoy has applied for the resumption of trading in shares this afternoon.
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