Yurun, Asian Citrus tempt investors with follow-on sales
China Yurun Food sold shares worth $511m on Wednesday while Asian Citrus, a Chinese orange grower, priced a $70m follow-on offering in its first equity raising since it was embroiled in a trading row when it listed in Hong Kong in November.
China Yurun sold new and existing shares in a placement handled by Morgan Stanley and UBS, raising new money for the company and allowing chairman Zhu Yicai to reduce his stake.
The 166m shares on offer represent a 9.41% stake in the enlarged company and were sold at HK$23.88,
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