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ThePigSite Latest News
Friday, October 05, 2007
Print This Page Pig processor goes to market
CHINA - China Yurun Food Group (1068), one of the mainland's largest producers of chilled and frozen pork, and its chairman are seeking to take advantage of the market peak to raise up to HK$1.73 billion through share placements.Yurun and chairman Zhu Yicai are selling a combined 150 million shares at HK$11.15 to HK$11.50 per share, representing a 4.2 to 7.1 percent discount to Wednesday's closing price of HK$12.00.
Goldman Sachs and UBS are the arrangers of the sale.
Shares in Yurun have been suspended since yesterday morning, pending announcement of the share placement.
Half the shares being offered are existing shares, while the other half are being offered through a top-up share placement.
The top-up share placement involves a placement of shares owned by Zhu, who will receive a new issue of shares from the firm later.
Zhu currently holds a 52 percent stake in Yurun.
Source: TheStandard
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