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Pryor Cashman Represents Zhongpin Inc. in $60 Million Public Offering of Common Stock
October 21, 2009Press Release
On October 15, 2009, Pryor Cashman client Zhongpin Inc. (Zhongpin), completed a $60 million public offering of 4,600,000 shares of its common stock. Piper Jaffray & Co. acted as lead manager of the underwriters in the offering and Zhongpin was represented by Pryor Cashman. The Pryor Cashman team included partner Eric M. Hellige (Chairman of the firm’s Corporate Group) and associates Michel Peng and David Parsly.
Zhongpin is a meat and food processing company in the People’s Republic of China (PRC) specializing in pork and pork products, fruits and vegetables. Its distribution network in the PRC spans more than 20 provinces and includes over 3,000 retail outlets. Zhongpin’s export markets include the European Union and Southeast Asia. Zhongpin will use the net proceeds of the offering to fund expansion plans, to repay short-tem indebtedness and for working capital and general corporate purposes.
