BioVittoria IPO extended again

Lan Fusheng, BioVittoria Chinese president and national expert in Luo Han fruit, with a crop in China. The fruit is dried and used as a sweetener.

Hamilton-based natural sweetener company Biovittoria is further extending the closing date of it share offer.

The company, which is aiming to sell up to 20 million shares at $1 each, today said it had received a good response from many investors.

But the timing of the share offer had coincided with major offers, which meant investors had been considering many options.

Financial advisers had indicated they needed further time because of the nature of BioVittoria as an investment .

Funds from the initial public offering (IPO) are to be used for further development and commercialisation of its PureLo sweetener, derived from the Luo Han fruit in China.

The IPO was launched in early November, with the sale initially due to close on November 25. The closing date was first extended to December 11, and was today extended to December 29, with the trading and quotation date expected to be January 7.

BioVittoria said it was processing this season's crop and continued to make good progress.

- NZPA