Yantai North Andre Juice Co. is to launch a share placement. The apple juice maker announced today that it hopes to raise up to HK$200.6m (US$25.72m) to build new production facilities for pear juice concentrate and to buy machinery and equipment.

The company, based in the east of China, is seeking approval to issue up to 304m new shares, the equivalent of 20% of its existing share capital.

In a statement, North Andre said that it would seek approval from its shareholders and regulatory authorities to issue new H shares, the Hong Kong-listed shares of firms who derive most of their income from China.