China Yurun Food says restructuring awaiting nod, stock drops most in 10 mths

China Yurun Food

05/01/2022 04:31

** Shares of meat products group China Yurun Food Group Ltd
 1068.HK  fall as much as 12.1% to HK$0.94, the biggest daily
percentage drop since March 8
    ** Stock on course to snap three straight sessions of gains
    ** Jiangsu, China-based company, with current market value
of about HK$1.9 bln ($243 mln), says approval process of its
restructuring proposal is still in progress  urn:newsml:reuters.com:*:nFWN2TK05C
    ** Says it will maintain close communication with the
administrator and will update shareholders and potential
investors with latest details 
    ** Hang Seng Commerce & Industry Index  .HSNC  falls 2.6%
and Hong Kong composite Industry Index on consumer staples
 .HSCICS  slips 0.1%
    ** Hang Seng Composite Index  .HSCI  drops 1.2% and Hang
Seng Index  .HSI  slides 0.9%

    ($1 = 7.7931 Hong Kong dollars)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))