Mengniu investors milk market for $78 million in secondary share sale

Anticipated sell-down meets strong demand on a day when the local stock market rebounds; shares sold at 5.6% discount.

The two largest shareholders in China Mengniu Dairy on Friday June 30 sold a 4.9% stake in the company for HK$610.9 million $78 million after the end of a one-year lock-up that was imposed after their previous sale.

The placement came on a day when the Hong Kong stockmarket added just over 400 points or 2.5% to finish at 16,267 points - its highest level in six weeks. Market watchers said this was a sign investors are getting more...

To continue reading, please login or register for free

Click for more on: placement | consumer | morgan stanley

Print Edition

FinanceAsia Print Edition


  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...