Yurun and its chairman raise $453 million from share sale

The fourth sell-down since Yurun's listing in 2005 comes as the stock hits a record high and reduces the chairman's stake to 25.3%.

Hong Kong-listed China Yurun Food Group took advantage of the strength in the Hong Kong equity market last week as well as recent demand for its own shares to complete another placement of new and existing stock. The Chinese pork producer, and its chairman Zhu Yicai, have been selling shares in the company at regular intervals since the IPO in 2005 and have generally been timing the transactions to coincide with new share price highs, but even so, the stock tends to perform well after each deal and investors seem unconcerned about the fact that the chairman continues to reduce his stake.

This latest transaction was completed after the close of trading on Wednesday, less...

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