Day: June 24, 2021

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Bon Natural Life Limited Announces Pricing of Upsized $11 Million Initial Public Offering

XIAN, China, June 23, 2021 (GLOBE NEWSWIRE) — Bon Natural Life Limited (Nasdaq: BON) (“BON” or the “Company”), one of the leading bio-ingredient solutions providers in the natural, health and personal care industries, today announced the pricing of its firm commitment initial public offering of 2,200,000 ordinary shares, par value US$0.0001 per share (the “Shares”) at a public offering price of $5.00 per Share (the “Offering”), for total gross proceeds of $11.0 million, before deducting underwriting discounts, commissions and other related expenses. In addition, BON has granted the underwriters a 45-day option to purchase up to an additional 330,000 Shares at the public offering price, less underwriting discount and commissions. The Shares are expected to begin trading on the Nasdaq Capital Market under the ticker symbol “BON” on June 24, 2021. The Offering is expected to close on or about June 28, 2021, subject to the satisfaction of customary closing conditions.

The Company intends to use the proceeds for working capital, to expand their sales and distribution network, research and development, and to expand production capacity.

U.S. Tiger Securities, Inc. and Newbridge Securities Corporation are acting as co-lead book running managers, and R.F. Lafferty & Co. Inc. is acting as the joint lead book running manager.

The Company’s securities described above are being offered pursuant to an effective registration statement on Form F-1 (SEC File No. 333-251182), that was previously filed with the Securities and Exchange Commission (“SEC”) on May 14, 2021, subsequently amended and declared effective on June 23, 2021, a copy of which has been filed with the SEC and is available on the SEC’s website at www.sec.gov. The Offering is being made only by means of such prospectus.

This press release contains information about the pending Offering of securities, and there can be no assurance that the Offering will be completed.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor may there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Bon Natural Life Limited

The Company focuses on the manufacturing of personal care ingredients, such as plant extracted fragrance compounds for perfume and fragrance manufacturers, natural health supplements such as powder drinks and bioactive food ingredient products mostly used as food additives and nutritional supplements by their customers. For additional information, please visit the Company’s website at www.bnlus.com.

Safe Harbor Statement

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as “may, “will, “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company’s goals and strategies; the Company’s future business development; product and service demand and acceptance; changes in technology; economic conditions; the growth of the natural, health and personal care market in China and the other international markets the Company plans to serve; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and the international markets the Company plans to serve and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward–looking statements to reflect events or circumstances that arise after the date hereof.

For more information, please contact:

In the United States: In China:
Maggie Zhang | Impact IR Sophie Zhang| Impact IR
Phone: (646) 893-8916
Email: maggie.zhang@irimpact.com Email: sophie.zhang@irimpact.com
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Vietnam congratulates Communist Party of China on 100th anniversary

Vietnam congratulates the Communist Party of China (CPC) on its 100th founding anniversary, the Foreign Ministry’s spokeswoman Le Thi Thu Hang said at a regular press conference held online on June 24.

Commenting on the CPC’s development achievements over the past 100 years, Hang said the CPC has led the Chinese people to great victories in the struggle for national liberation and in the cause of national construction and development.

Vietnam also congratulates the Chinese people, under the leadership of the CPC, on completing the comprehensive building of a well-off society and continuing to head towards the next development goals, she said.

The spokeswoman also added that the Vietnamese Party, State and people always treasure friendly neighbourliness and comprehensive cooperation with their Chinese counterparts, respect the support that the two Parties, countries and peoples offered to each other in the past struggles for national liberation as well as in the present cause of national construction and development./.

Source: Vietnam News Agency

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PM proposes WHO support and prioritise vaccine delivery to Vietnam

Prime Minister Pham Minh Chinh proposed the World Health Organization (WHO) support and give priority for Vietnam to soon receive the next batches of COVID-19 vaccines as committed under the COVAX Facility during his phone talks with WHO Director-General Tedros Adhanom Ghebreyesus on June 24.

PM Chinh affirmed that Vietnam will implement the vaccination strategy effectively and safely in a timely manner.

He also proposed the WHO to support and assist Vietnam to become one of the vaccine production centres in the Asia Pacific region, adding that with the capacity of the medical sector of Vietnam as well as potential of some Vietnamese businesses, Vietnam could produce vaccines meeting international standards. He applauded the WHO Director-General’s suggestion to send WHO experts to support Vietnam in this process.

He appreciated the cooperation and support of the WHO for the development of the medical sector of Vietnam over the past 45 years.

Vietnam supported global medical efforts and appreciated the role of the WHO and the Director-General in coordinating international cooperation in disease prevention and control, particularly in COVID-19 prevention and control and in promoting equal COVID-19 vaccine access across the globe, he said.

During the pandemic, Vietnam has strived to implement the “dual goal” of fighting against the COVID-19 while recovering socio-economic development with support and cooperation of the international community, including the WHO, and of the Vietnamese people, and has achieved initial positive results, PM Chinh said.

For his part, Tedros spoke highly of Vietnam’s success in implementing the “dual goal”, particularly the country’s active and creative measures, resolute leadership of the Government and the participation of the whole political system, contributing to Vietnam’s pandemic prevention and control efforts to make the country an effective COVID-19 prevention model in the world which was widely popularised by the WHO.

He applauded Vietnam’s assistance to international friends in the fight against COVID-19 and thanked the Vietnamese Government for its commitment to contribute 500,000 USD to the COVAX programme.

The WHO Director-General also thanked Vietnam for receiving and successfully treating a UN staff member who contracted COVID-19.

Tedros said Vietnam would be prioritised to get quick access to sources of vaccines as well as become a vaccine production centre in the region. The WHO would send experts to support Vietnam’s vaccine research and production efforts meeting international standards, he added./.

Source: Vietnam News Agency

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Festival in France to introduce Vietnamese culture

The 2nd Vietnam Festival will take place from July 16-18 at the Paradiski resort, a world-famous ski destination in La Plagne Tarentaise town of France’s Southeastern Savoie province.

Mayor of La Plagne Tarentaise Jean-Luc Boch expressed his joy as his town is to host such a Vietnamese cultural festival for the first time.

This location is not only dedicated to skiing but also welcomes many tourists who are interested in resort tourism in summer, he said.

Silvère Say, an official of the town administration, said the function is part of a plan to develop cultural activities for the famous resort, expressing his hope that the festival will be a highlight and a magnet to tourists.

According to Philippe Thais, festival director of the festival’s organiser – the Asia New Generation Vietnam (ANGV) association, an advertisement campaign for the event, has been promoted on Internet platforms and in social networks such Instagram and Facebook for a year.

The event will offer a chance for visitors to experience activities imbued with Vietnamese national identity and culture such as lion dance, Ao dai (long dress) performance, water puppet show, traditional martial arts demonstration and musical instrument performance, and handicrafts exhibition.

Both said local authorities are willing to further tighten the partnership with Vietnam, so that culture cooperation events between the two sides can take place every year.

The ANGV association hosted the first Vietnam Festival in July 2019 in Lyon city./.

Source: Vietnam News Agency

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Vietnamese wins Best Actor Award at 18th Asian Film Festival

Tran Anh Khoa, playing Rom in the movie of the same name, took home the Best Actor Award at the 18th Asian Film Festival taking place in Rome from June 17 – 23.

The award is among the five most important of the festival, together with the Best Film, Best Director, Best Actress, and Most Original Film.

Khoa’s performance was described as “an interpretation of instinct, energy and dynamism for a character who moves in the chaos and madness of Ho Chi Minh City”.

The Embassy of Vietnam in Italy received the award on behalf of Khoa, who is currently living in Canada.

“Rom” was among the four Vietnamese movies screened in the festival, with three others including Bac Kim Thang (Home Sweet Home), “Bo Gia” (Dad, I’m sorry), and “Tiec trang mau” (Blood Moon Party).

The Asian Film Festival in Italy is organised by the Roberts Bresson Film Foundation which selects the best films in East Asia, with special attention given to young directors.

A total of 28 feature and two short films from 11 East Asian countries such as Japan, the Republic of Korea, Indonesia, Vietnam and Singapore, are featured at the event.

The films mainly reflect the abuse and bullying of minors, family relationship and climate change in parts of the region./.

Source: Vietnam News Agency

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More donors contribute to national COVID-19 vaccine fund

The national COVID-19 vaccine fund received over 6.6 billion VND from 17 sponsors at a ceremony on June 24.

Among the donors, Tan Viet Securities JSC contributed over 3.3 billion VND, Fubon Vietnam Insurance Co. Ltd 1 billion VND, Hoa Linh Pharmaceuticals Co. Ltd 500 million VND, and the Ministry of Agriculture and Rural Development 500 million VND.

The fund’s management board has opened 21 accounts for donations made in VND, USD, EUR at the State Treasury and six commercial banks namely BIDV, Vietcombank, VietinBank, HDBank, Agribank and TPBank.

Since its inception, the fund had accumulated over 7.5 trillion VND (326 million USD) as of 5pm on June 24, according to its management board.

The sum was donated by 339,650 individuals and organisations.

The use, management and opening of accounts at the State Treasury is publicised on the mass media daily.

Vietnam will need 22.5 trillion VND to buy 150 million doses of COVID-19 vaccine to inoculate 75 million people in order to achieve herd immunity./

Source: Vietnam News Agency

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Incentives to be made more specific

The Ministry of Planning and Investment (MPI) has announced plans to issue more specific criteria for special investment incentives to better attract foreign direct investment (FDI).

The ministry is collecting opinions to finalise the draft of the Prime Minister’s decision on special investment incentives, said Deputy Minister of Planning and Investment Nguyen Thi Bich Ngoc.

Vietnam needs more specific regulations on special investment incentives, especially for sectors seeking investment under Vietnam’s development plans, create more advantages when negotiating with foreign investors and competing to attract foreign investment, she said.

The decision also aims to institutionalise the provisions of the Investment Law and Government Decree No 31/2021/ND-CP on issuing detailed regulations and guiding the implementation of a number of articles of the Investment Law.

Many experts have said Vietnam really needs to have new criteria of special investment incentives, aiming at efficiency in investment activities, attracting quality investment and investment in technology, and also ensuring environmental protection.

At the same time, priority should be given to projects with advanced technology, high-tech, added value and connection to the global production and supply chains. That is a goal of Politburo Resolution No 50-NQ/TW on perfecting institutions and policies for FDI attraction and improving the quality and efficiency of foreign investment cooperation.

In addition, the regulations of this decision must be clear and detailed in terms of the scale and duration of incentives, experts have said.

The special investment incentives need to apply to both new projects and projects with new investment.

Besides special investment incentives and assistance, under Decree 31, projects can now join investment incentives specified in the investment license, business license, certificate of investment incentives, investment certificate or investment registration certificate.

They can also receive incentives via a decision on investment guidelines or a decision on approval for investment guidelines.

The disbursement of FDI capital from early this year to May 20 was estimated at 7.15 billion USD, up 6.7 percent over the same period in 2020, according to the MPI.

During the five-month period, total newly registered and supplemented FDI capital was posted at nearly 14 billion USD, up 0.8 percent from the corresponding period last year, including 8.83 billion USD, up 18.6 percent, from 613 newly-registered projects.

The manufacturing sector lured the most FDI capital with 6.14 billion USD in the first five months.

Foreign investors poured capital into 56 provinces and cities across the country, with the largest amount sent to Long An province with total registered capital of 3.35 billion USD, accounting for 23.9 percent of total registered capital in the period. HCM City was the runner-up with 1.34 billion USD and Can Tho came third with 1.32 billion USD in FDI capital.

Singapore was the largest foreign investor in Vietnam during the first five months with a total investment capital of 5.26 billion USD, accounting for 37.6 percent of total foreign investment capital. It was followed by Japan, the Republic of Korea and China./.

Source: Vietnam News Agency

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Vietnam attracts over 15 billion USD of FDI in six months

Foreign investors have poured 15.27 billion USD of investment in Vietnam so far this year, equivalent to 97.4 percent of the amount recorded in the same period last year, according to the Ministry of Planning and Investment (MPI).

The ministry reported that as of June 20, 9.55 billion USD had been injected into 804 newly-licenced projects, up 13.2 percent year on year.

Meanwhile, 4.12 billion USD had been added into 460 underway projects, a year on year rise of 10.6 percent. Foreign investors also poured 1.61 billion USD in share purchase deals in Vietnam, according to the ministry.

Meanwhile, the disbursement of FDI in the period rose 6.8 percent year on year to 9.24 billion USD.

Among the 18 sectors attracting FDI, manufacturing-processing lured the highest amount at 6.98 billion USD, accounting for 45.7 percent of the total investment, followed by power production and distribution with 5.34 billion USD, making up nearly 35 percent of the total investment.

Singapore leads the 80 countries and territories investing in Vietnam with investment of 5.64 billion USD, followed by Japan with 2.44 billion USD, and the Republic of Korea with 2.05 billion USD.

As of June 20, the country had hosted 33,787 FDI projects worth 397.89 billion USD totally, of which 241.1 billion USD, or 60 percent, had been disbursed.

The export revenue of the foreign-invested sector has continued to rise at 32.2 percent to 116 billion USD (including crude oil), accounting for 74.1 percent of the country’s total export revenue. The sector’s revenue excluding crude oil reached 115.3 billion USD, up 32.6 percent year on year.

The sector imported 102.6 billion USD worth of goods in the period, up 38.7 percent year on year. As a result, in the first half of this year, it enjoyed a trade surplus of 13.4 billion USD including revenue from crude oil.

The MPI also reported a trade deficit of 14.9 billion USD by domestic businesses./.

Source: Vietnam News Agency