Chaoda ups follow-on stock placement to $229m

18 Jun 2009

Chaoda Modern Agriculture sold new shares worth $229m late on Wednesday as a hefty 14% discount to its last sale price drew a strong response from investors.

Chaoda, which grows and processes fruit and vegetables in China, sold 388m shares at HK$4.60, a 14% discount to its last sale price before the stock was suspended for the afternoon session and 11.4% below Wednesday morning’s volume weighted average price (VWAP). That was an increase from the 337m ...

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