Chinese supermarket chain Wumart plans to create an expansion fund through the placement of 21.1m new shares. The company hopes to raise as much as HK$464.2m, with share prices ranging from HK$20.65 to HK$22 per share, the Dow Jones newswire reported today (7 February), citing a source familiar with the situation.
The report comes days after the supermarket operator announced an investment of CNY370m to obtain a controlling stake in rival Beijing supermarket chain Merrymart.
Sign up for our daily news round-up!
Give your business an edge with our leading industry insights.
Just Food Excellence Awards - Have you nominated?
Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!
Nominate Now
