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Mengniu Dairy Stake Sale Totals HK$3B  

Posted on Jul 08, 2009 | 19:07

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Mengniu Dairy (2319.HK) announced July 5 that it will receive net proceeds of approximately HK$3 billion through the sale of 11.13% of its existing shares and 10.01% of its enlarged issue share capital to COFCO and HOPU Investment Management. COFCO and HOPU plan to establish a special purpose vehicle, in which COFCO will hold 70% stake, to purchase a total of 173.8 million Mengniu shares at HK$17.6 per share.

Tags:  2319.HK COFCO HOPU Mengniu Retail

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