China Youran Dairy to Raise Over HK$2 Billion via Share Placement, Subscription

MT Newswires Live01-16

China Youran Dairy (HKG:9858) plans to raise about HK$2.33 billion in net proceeds through a share placing and two share subscriptions, according to a Friday Hong Kong bourse filing.

An existing shareholder will place 299.3 million shares at HK$3.92 each to at least six independent investors on a best-efforts basis. The placing represents about 7.7% of the company's current issued share capital.

China Youran will issue the same number of new shares to the seller under a top-up subscription at the same price, raising about HK$1.16 billion in net proceeds.

The company will also issue 299.3 million new shares to the same shareholder under a separate specific mandate subscription, with net proceeds of about HK$1.17 billion.

Net proceeds will be used to improve technology and digital systems, repay interest-bearing debt, and for working capital and general corporate purposes.

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