NEW YORK, Oct. 28, 2010 (GLOBE NEWSWIRE) -- Le Gaga Holdings Limited ("Le Gaga") (Nasdaq:GAGA), one of the largest greenhouse vegetable producers in China as measured by the area of greenhouse coverage and one of the fastest growing major vegetable producers in China, today announced that it has priced its initial public offering of 10,871,599 American Depositary Shares (ADSs) at $9.50 per ADS. The ADSs, each representing 50 ordinary shares, will begin trading on Friday, October 29, 2010, on the NASDAQ Global Select Market under the symbol "GAGA."
Le Gaga's registration statement relating to the securities offered in the offering was declared effective as of October 28, 2010, by the U.S. Securities and Exchange Commission. This press release shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.About Le Gaga Holdings (Nasdaq:GAGA) Le Gaga is one of the largest greenhouse vegetable producers as measured by the area of greenhouse coverage and one of the fastest growing major vegetable producers in China. Through its subsidiary China Linong International Limited, the Company sells and markets over 100 varieties of vegetables to wholesalers, institutional customers and supermarkets in China and Hong Kong with a trusted brand among customers. In particular, the Company supplies vegetables to supermarkets, such as Walmart in China and Wellcome, ParknShop and Vanguard in Hong Kong. The Company currently operates 16 farms with an aggregate area of 1,257 hectares in the Chinese provinces of Fujian, Guangdong and Hebei. The Company produces and sells high quality vegetables all-year-round leveraging its large-scale greenhouses, proprietary horticultural know-how and comprehensive database. The Le Gaga Holdings Limited logo is available at: http://www.globenewswire.com/newsroom/prs/?pkgid=8233 For further information, please contact:
CONTACT: Hill & Knowlton (New York) U.S. Athanasia Sfikas (1) 212 885 0415 email@example.com Hill & Knowlton Asia Ltd Hong Kong Daphne Ho (852) 2894 6320 firstname.lastname@example.org