ADAMA, Sanonda Finalize Name Change
ADAMA, the combination of Adama Agricultural Solutions Ltd. and Hubei Sanonda Co. Ltd., have announced that the Board of Directors has approved the change of its name to ADAMA Ltd.
The name ADAMA comes from the Hebrew word for “earth” or “soil”. This step is the final milestone in the combination of the two companies, and demonstrates their coming together under ADAMA as a single global brand, reflecting the company’s farmer-centric focus and its commitment to advancing agriculture in markets around the world.
ADAMA is the only integrated Global-China crop protection company, as well as the first global one to be publicly traded on the China stock market.
Commenting on the name change, Yang Xingqiang, Chairman of ADAMA’s Board of Directors, said, “The unification of our company under the global ADAMA brand cements our identity as a Global-China crop protection leader, bringing innovative solutions that simplify the lives of farmers in China and worldwide.”
Chen Lichtenstein, President and CEO of ADAMA, added “We are bringing one of the world’s leading crop protection brands to our combined company, farmers, customers, our people, shareholders and the public equity markets. Being traded on the Shenzhen Stock Exchange, we offer a distinctive opportunity for both Chinese and international investors to participate in our growth journey.”
A shareholder meeting has been set for December 26, 2018 to approve the name change, and it is expected to come into effect in the coming weeks.
The company’s A-shares and B-shares will continue to trade on the Shenzhen Stock Exchange, and while the stock abbreviations will change to ADAMA, the stock codes (tickers) will remain the same.