,Hong Kong

China Youran Dairy estimates $3.2b net proceeds in global offering

It set its offer price at $6.98 per share.

China Youran Dairy estimated its net proceeds at approximately $3.23b after it priced its shares at $6.98 each.

The company registered 28,283 valid applications for a total of 266.5 million Hong Kong public shares, which is 3.73 time more than the 71.54 million shares initially offered.

Its international offering was also over-subscribed by 3.88 times. The final number of offer shares is 643.8 million, which is 90% higher than the shares initially offered under the global offering.

Of the $3.23b, China Youran will earmark 75% or $2.42b for investment projects over the next two years, including building new dairy farms and a feed mill amongst others.

Some 15% or $486m will be used to buy dairy cows, whilst 10% or $324m will be for working capital.

Join Asian Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

The bank said the merger is crucial in the REIT sector.
The company also experienced a loss of $647m for H1.
Entry submission runs from 6 September 2021 to 7 January 2022.
This is expected to speed up the electronic exchange of trade documents.
The insurer plans to use the fresh capital for product development.
The digital payments platform has teamed up with bolttech for this latest project.
This will take effect on 11 November 2021.
Cigna has operations in seven markets in Asia-Pacific.
Singapore banks are leading the way in adopting alternative reference rates.
8 out of 10 consumers in the region use online platforms to discover items they want to buy. 
ZALORA provides brands with data-driven insights derived from its 2.6 million users.
81% of banks seek to differentiate their customer experience.
The two hope to dispense over US$1b of loans over the next five years.
Mobile wallet adoption in Thailand, Vietnam far exceed those in the US, the UK.