VOC Vision OP China

 

TIDMVOC 
 
RNS Number : 1571N 
Vision Opportunity China Fund Ltd 
07 June 2010 
 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART INTO THE UNITED 
                STATES, CANADA, AUSTRALIA, SOUTH AFRICA OR JAPAN 
                                  7 June 2010 
        Vision Opportunity China Fund Limited 
(the "Company" or "VOC") 
                                 New Investment 
Vision Opportunity China Fund Limited (AIM: VOC.L) today announces that it has 
invested $7.0 million in China Gerui Advanced Materials Group Limited ("China 
Gerui") (NASDAQ: CHOP) as part of a $18.8 million financing by private 
placement. 
Founded in 2000 in Zhengzhou City of Henan Province, China Gerui is a leading 
niche and high value-added steel processing company that manufactures and sells 
specialty steel products in China.  It is one of the largest manufacturers of 
high precision cold-rolled narrow strip steel products in China.  China Gerui 
has over 200 domestic Chinese customers in a diverse range of industries, 
including food and packaging, construction materials, telecommunications and 
electrical appliances. 
China Gerui's business has shown continual growth with net income increasing to 
$43.4 million for the financial year ended 31 December 2009 from $21.6 million 
for the financial year ended 31 December 2008.  Total revenue was $218.9 million 
for the financial year ended 31 December 2009, an increase from $196.3 million 
for the financial year ended 31 December 2008.  In return for its investment, 
VOC received 1,228,070 shares of China Gerui's common stock at a price per share 
of $5.70. 
China Gerui plans to use the net proceeds from the private placement to finance 
the previously announced expansion of its high-precision cold-rolled steel 
production capacity, accelerate the build-out of a chromium-plating production 
line of 200,000 metric tons that was originally scheduled for 2011, as well as 
for general working capital purposes related to the expanded production 
capacity. 
This transaction will be described in more detail in an 8-K and other supporting 
documents to be filed shortly by China Gerui with the Securities and Exchange 
Commission. 
 
For further information, please contact: 
Vision Opportunity China Fund Limited 
David Benway  / Adam Benowitz 
                Tel: +1 (212) 849 8225 
www.vocfund.com 
Canaccord Genuity Limited 
                       Tel: +44 (0)20 7050 6500 
Guy Blakeney / Sue Inglis 
Financial Dynamics 
                             Tel: +44 (0)20 7269 7132 
Ed Gascoigne-Pees / Ed Berry 
NOTE TO EDITORS 
Vision Opportunity China Fund Limited 
Vision Opportunity China Fund Limited ("VOC") is a closed-ended listed fund 
traded on AIM.  VOC primarily invests directly in listed companies with 
operations principally within Greater China. 
Greater China is a collective term for the territories administered by the 
People's Republic of China, those administered by the Republic of China and 
Singapore. 
China Gerui Advanced Materials Group Limited 
For more information, please visit http://www.geruigroup.com 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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