Raw milk producer China Youran Dairy plunges in Hong Kong debut

China Youran Dairy

18/06/2021 04:11

** Shares of China Youran Dairy Group Ltd  9858.HK  trade as
low as HK$5.85 each in their Hong Kong debut on Friday, down
16.2% from the IPO price
    ** Stock last down 15.6% from the IPO price of HK$6.98
apiece; among the 30 most actively traded shares by turnover
    ** The Chinese raw milk producer, backed by private equity
group PAG, raised $643 million in its Hong Kong IPO, with the
proceeds to be used to build and buy new dairy farms, to buy
dairy cattle stock and for working capital  urn:newsml:reuters.com:*:nL2N2NT02Q
    ** PAG's stake in Youran Dairy reduces to 31.46% from 42.89%
following the offering, while Inner Mongolia Yili Industrial
Group's  600887.SS  stake trims to 34.80% from 40%  
    ** Shares of Shanghai-listed Inner Mongolia Yili slips 1.8% 
    ** The Hong Kong composite Industry Index tracking consumer
staples  .HSCICS  gains 0.6%
    ** The Hang Seng China enterprises index  .HSCE  climbs
0.3%, and the benchmark index  .HSI  gains 0.5%


 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)