updated 10/29/2010 2:15:31 AM ET 2010-10-29T06:15:31

NEW YORK, Oct. 28, 2010 (GLOBE NEWSWIRE) -- Le Gaga Holdings Limited ("Le Gaga") (Nasdaq:GAGA), one of the largest greenhouse vegetable producers in China as measured by the area of greenhouse coverage and one of the fastest growing major vegetable producers in China, today announced that it has priced its initial public offering of 10,871,599 American Depositary Shares (ADSs) at $9.50 per ADS. The ADSs, each representing 50 ordinary shares, will begin trading on Friday, October 29, 2010, on the NASDAQ Global Select Market under the symbol "GAGA."

The offering comprises an initial public offering of 9,200,000 ADSs by Le Gaga and an additional offering of 1,671,599 ADSs by selling shareholders of Le Gaga, as disclosed in the prospectus.

The underwriters may also purchase up to an additional 1,630,740 ADSs from certain selling shareholders at the public offering price, less underwriting discounts and commissions payable by Le Gaga, to cover over-allotments, if any, within 30 days from the date of the prospectus.

BofA Merrill Lynch and UBS Investment Bank acted as joint global coordinators and joint bookrunners for this offering, and Piper Jaffray and Oppenheimer & Co. acted as co-managers for the offering.

A copy of the prospectus relating to the offering may be obtained from BofA Merrill Lynch, 4 World Financial Center, New York, NY 10080, Attention: Prospectus Department, or by e-mail to dg.prospectus_requests@baml.com or from UBS Investment Bank, 299 Park Avenue, New York, NY, 10171, Attention: Prospectus Department,or by calling +1 888 827 7275.

Le Gaga's registration statement relating to the securities offered in the offering was declared effective as of October 28, 2010, by the U.S. Securities and Exchange Commission. This press release shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall 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 Le Gaga Holdings (Nasdaq:GAGA)

Le Gaga is one of the largest greenhouse vegetable producers as measured by the area of greenhouse coverage and one of the fastest growing major vegetable producers in China. Through its subsidiary China Linong International Limited, the Company sells and markets over 100 varieties of vegetables to wholesalers, institutional customers and supermarkets in China and Hong Kong with a trusted brand among customers. In particular, the Company supplies vegetables to supermarkets, such as Walmart in China and Wellcome, ParknShop and Vanguard in Hong Kong.

The Company currently operates 16 farms with an aggregate area of 1,257 hectares in the Chinese provinces of Fujian, Guangdong and Hebei. The Company produces and sells high quality vegetables all-year-round leveraging its large-scale greenhouses, proprietary horticultural know-how and comprehensive database.

The Le Gaga Holdings Limited logo is available at: http://www.globenewswire.com/newsroom/prs/?pkgid=8233

For further information, please contact:

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