China Mengniu Dairy said today (9 April) it would issue HK$2.91bn (US$373m) worth of new shares to settle its purchase of an additional interest in its main operating subsidiary Inner Mongolia Mengniu Dairy.
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According to local reports, the Chinese dairy processor is increasing its stake in the subsidiary to 93.29% from 84.32%, by issuing 135.33m new shares, representing 8.67% of its enlarged share capital.
The average trading price of the shares in the previous 60 trading days was HK$21.48 each, the company said.
