On February 14, Angel Yeast announced that its A-share Global Depositary Receipts (GDR) obtained conditional approval to list on the Swiss Stock Exchange, with several preconditions to be met for the final listing，the Beijing News reported.

In November 2022, the board of directors of Angel Yeast passed the proposal of listing on the Swiss Stock Exchange and transforming it into an overseas company limited by shares to expand international financing channels, meet the needs of overseas business development, and promote the company’s international brand. The newly-added A-shares of basic securities represented by this issuance of GDR do not exceed 9% of the total share capital of RMB ordinary shares before the issuance.

Angel Yeast is a listed company specializing in the operation of yeast, yeast derivatives and related biological products. It is also the first yeast company in Asia and the second largest yeast company in the world. As of June 2022, Angel Yeast has 6 overseas business divisions, 11 application technology service centers, and its products are sold in 163 countries and regions worldwide, accounting for nearly 60% of the domestic yeast market and more than 15% of the global yeast market.

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