The main vendor was Yinniu, a substantial shareholder of Mengniu, which sold 98.1 million of the 112.9 million shares on offer. Yinniu then bought back 57.5 million new shares at the same price, ensuring that the dairy product manufacturer was also able to raise HK$1.38 billion $177million in fresh cash from the transaction. Mengniu is held mainly by members of its senior management
The shares were offered at a...
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