China Farm Equipment Ltd., which makes diesel engines and farming machinery, plans to raise at least S$11 million ($7.2 million) in funds for expansion by selling new shares in an initial public offering in Singapore.

The company -- which sells its products under the "Dragon Boat" and "Binhu" brands in China -- plans to sell at least 25 percent of its enlarged share capital. Its share capital of 180 million shares is likely to be increased to 240 million after the IPO.

The prospectus said it plans to raise S$7.5 million to invest in additional plant, machinery and production facilities, S$2.5 million to fund research, and S$1 million to boost marketing efforts.

Source:佚名