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China Shengmu Organic Milk Ltd ( (HK:1432) ) has issued an announcement.
China Modern Dairy has completed the purchase of 107,200,000 shares in China Shengmu Organic Milk from several selling shareholders for HK$37.52 million in cash, representing about 1.28% of Shengmu’s issued share capital. The transaction forms part of a broader mandatory conditional cash offer by China Modern Dairy, via CLSA, to acquire all Shengmu shares it does not already own or has agreed to acquire, potentially increasing its control and reshaping competitive dynamics in the Hong Kong-listed dairy sector.
More about China Shengmu Organic Milk Ltd
China Modern Dairy Holdings Ltd. and China Shengmu Organic Milk Ltd. are Cayman Islands-incorporated dairy companies listed in Hong Kong, operating in the milk and dairy products sector. China Shengmu focuses on organic milk, while China Modern Dairy is expanding its presence in China’s dairy market through strategic share purchases and takeover offers.
Average Trading Volume: 11,232,842
Technical Sentiment Signal: Hold
Current Market Cap: HK$2.77B
Find detailed analytics on 1432 stock on TipRanks’ Stock Analysis page.