China Modern Dairy pockets HK$1.56bn from share sale

Factory farm dairy cows from Adobe 3Jun20 575x375
By Jonathan Breen
20 Jan 2021

China Modern Dairy Holdings has raised HK$1.56bn ($201.2m) after selling a block of new shares to fund growth and M&A.

The company is the largest dairy farm operator and fresh raw milk producer in China, but it is looking to grow further with plans to expand its herds and invest in infrastructure development, while making potential strategic investments and acquisitions.

To that end, joint placing managers CICC and ...

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