Yurun and its chairman raise $511 million through placement

The placement, which comprises 54% new shares, comes as the stock hits a new record high.

Hong Kong-listed China Yurun Food Group was in the market last night with a placement of new and existing shares that raised a combined HK$3.96 billion $511 million. The deal coincided with the share price closing at a new record high, but was still quite well received.

The existing shares, which accounted for approximately 46% of the deal, were sold by a company owned by chairman Zhu Yicai and his wife. This was the third time in four...

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