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Agria Corporation Message Board

  • orlandoiglesias66 orlandoiglesias66 Jun 23, 2010 5:44 AM Flag

    Good Luck! There's a reason IPO went from $17 to pennies

    http://seekingalpha.com/article/53416-agria-corporation-slumps-on-ipo

    The company's ownership structure was also troublesome in regards to its "effective control" of III Agriculture Development Co.

    "P3A has four record shareholders, consisting of Ms. Juan Li who is the wife of Mr. Guanglin Lai, our chairman of the board of directors, our co-chief executive officer and a beneficial owner of our ordinary shares, Mr. Zhaohua Qian who is our director and a beneficial owner of our ordinary shares, Mr. Zhixin Xue who is our chief operating officer and director, and Mr. Mingshe Zhang who has been involved in the management of P3A."


    The company's initial filing highlighted some red flags. The company reported that for the six months ending June 30, 2007, revenues were US$36.7 million, up less than 4% from the same period last year. Despite characterizing itself as firm specializing in agricultural research and development, Agria spent less than 1% of revenues on R&D in 2006.

 
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