China Tuna Industry Group Holdings Ltd. IPO Application Withdrawn

HONG KONG--(Business Wire / Korea Newswire)--China Tuna has advised the Hong Kong Stock Exchange that it has decided to withdraw its IPO Application.

China Tuna took this action following the negative publicity created by third parties about China Tuna’s fishing policies and practices. Dalian Ocean Fishing, China Tuna’s long-line tuna fishing subsidiary, is in compliance with all applicable policies and requirements of the People’s Republic of China and the relevant Regional Fishing Management Organizations (RFMOs), including the Western and Central Pacific Fisheries Commission.

China Tuna believes it is in the best interests of the company, the fishing industry and the world to support measures that will help ensure the sustainability of the ocean’s tuna population. China Tuna will continue to comply with and support government authorities in China, the RFMOs and other non-governmental organizations in developing and implementing appropriate conservation measures and other polices that ensure the sustainability of this vitally important marine resource.

About China Tuna

China Tuna is a duly authorized holding company. Its PRC-organized subsidiary, Dalian Ocean Fishing (DOF), was founded in 2000 and is headquartered in Dalian, Liaoning Province, China. DOF is a leading ultra-low temperature, long-line premium tuna fishing company. While the primary market for its catch is Japan, the company has also recently increased its sales to the Chinese market. DOF operates a fleet of 17 self-owned fishing vessels in the Pacific Ocean. It also operates seven Japanese vessels in the Atlantic Ocean under vessel management arrangements.

This is a news release distributed by Korea Newswire on behalf of this company.