Shenzhen Agricultural Products Completes Acquisition of Stake in Zhuxi Agricultural Products; Shares Drop 4%

MT Newswires Live04-03 14:39

Shenzhen Agricultural Products Group (SHE:000061) completed the acquisition of Zhuhai Zhuxi Agricultural Products Supply Chain, according to a Shenzhen bourse filing on Friday.

The Chinese agricultural products company acquired 11% of Zhuxi Agricultural Products for 110,005.81 yuan, while Guangdong Zhuhui Xitong Agricultural Products Circulation Industry Private Equity Investment Partnership (Limited Partnership) bought the remaining 89% for 890,046.97 yuan.

The company and the fund also raised Zhuxi Agricultural Products' capital by 488.6 million yuan and 60.4 million yuan, respectively, bringing it up to 550 million yuan.

Shenzhen Agricultural Products' shares dropped 4% during the afternoon trade.

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