UBS cuts shareholding in China Mengniu Dairy to 6.99%
Published: 07 Jul 2009 23:46:46 PSTJul. 8, 2009 (China Knowledge) - Swiss investment bank UBS AG has cut its shareholding in China Mengniu Dairy Co Ltd<2319> to 6.99% from the previous 7.37%, according to the bourse operator Hong Kong Exchanges and Clearing (HKEx)<0388>. HKEx said that UBS on Jul. 2 sold around 5.88 million shares of Mengniu Dairy for HK$107 million. The average share price of the transaction was HK$18.256 apiece. Inner Mongolia-based Mengniu Dairy announced on Monday that it would introduce two strategic inventors, China National Cereals, Oils & Foodstuffs Import and Export Corp (COFCO Group) and private equity (PE) fund Hopu Investment Management Co, would invest US$780 million in total for a 20% stake in the company, according to an earlier report from China Knowledge. Shares of Mengniu Dairy gained 1.15% to close at HK$19.32 on Tuesday. Copyright © 2009 www.chinaknowledge.com |
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