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Synutra International, Inc. Files Registration Statement on Form S-1 with the US Securities and Exchange Commission

2008-04-12 05:52 769

QINGDAO, China and ROCKVILLE, MD, April 12 /Xinhua-PRNewswire/ -- Synutra International, Inc. (Nasdaq: SYUT; “Synutra”), a leading infant formula company in China, and a producer, marketer and seller of nutritional products for infants, children and adults, today announced that it has filed a registration statement on Form S-1 with the US Securities and Exchange Commission relating to the proposed public offering of its common stock.

Synutra intends to use the net proceeds of the offering for construction and expansion of production facilities and production lines; construction of a new research and development facility in Beijing; advertising, promotion and marketing; and other general corporate purposes. The offering is being made through the underwriting syndicate of Goldman Sachs (Asia) L.L.C., Morgan Stanley & Co. Incorporated, and Deutsche Bank Securities Inc.

A registration statement relating to shares of Synutra’s common stock has been filed with the US Securities and Exchange Commission but has not yet become effective. These shares may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. The offering of these securities may be made only by means of the prospectuses relating to these securities.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Synutra International, Inc.

Synutra operates nine subsidiaries producing, marketing and selling dairy-based nutritional products across the People’s Republic of China. It offers its products for infants, children, adults and pregnant women and nursing mothers under the “Sheng Yuan” or “Synutra” master brand and several sub-brands, including “Super,” “U-Smart” and “U-Strong.” For more information, please contact Weiguo Zhang of Synutra International, Inc. (301 840 3888, wzhang@synutra.com) or Brian Rafferty of Taylor Rafferty (212 889 4350, synutra@taylor-rafferty.com).

The forward-looking statements contained herein relating to Synutra’s proposed public offering involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.

Source: Synutra International, Inc.
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