Slaughter and May is advising CICC and CMBI on the HK$1,552 million (approximately US$200 million) placing by China Modern Dairy Holdings Ltd
Slaughter and May, Hong Kong, is advising China International Capital Corporation Hong Kong Securities Limited as settlement agent and placing manager, and CMB International Capital Limited as placing manager, in relation to the placing of 650,000,000 new ordinary shares in China Modern Dairy Holdings Limited (“China Modern Dairy”) announced on 20 January 2021, raising HK$1,552 million (approximately US$200 million).
The placing represents an opportunity to raise capital for the business development of the China Modern Dairy Group and to expand the shareholder base of China Modern Dairy.
The net proceeds of the placing will be used for infrastructure development and herd expansion, potential mergers and acquisitions and general working capital.
China Modern Dairy is currently the largest leading dairy farming company and the largest producer of raw fresh milk in the PRC in terms of the herd scale and volume of annual production. It has been listed on the Main Board of the Stock Exchange of Hong Kong since 2010.