CHINA WUMART
November 1st, 2003
KEITH NUTHALLCHINESE supermarket chain Wumart has secured the support of the World Bank's International Finance Corporation (IFC) in its drive to expand, establishing10 hypermarkets, 32 supermarkets and 152 convenience stores in China over the next two years. The IFC is to invest US$6.5 million in Wumart Stores Inc, supporting its international offering on the Growth Enterprise Market of the Hong Kong Stock Exchange. This has enabled it to raise US$70 million for the expansion plan, which also involves improving the company's operating, information and logistics ...
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