NiSun International Enterprise Development Group (NISN) said Monday it has entered a $50 million corn supply agreement with Sichuan Yingdafeng Agricultural Technology.
Per the deal, Yingdafeng will supply high-quality yellow corn over the next 12 months. All corn will meet national food safety and quality standards, helping Nisun strengthen its role in China's agricultural supply chain, the company said.
The company added that it will continue its stock buyback plan to support long-term shareholder value.
Shares of NiSun International fell more than 5% in recent trading.
Price: 4.98, Change: -0.31, Percent Change: -5.82
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