Chinese pork producer People’s Food Holdings (PFH) has signed a deal to place 7.6% of its share capital for S$94.1m (US$54.1m), amounting to 80 million new Singapore-listed shares for S$1.22 each.
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The company revealed in a statement issued earlier today [Wednesday] that it would use the net proceeds of the transaction to fund the acquisition of a plant in China.
To conduct the placement, PFH has made agreements with placement agents UOB Kay Hian Pvt and CLSA Ltd, as well as its substantial shareholders Maleque and Ming Kam Sing.
