Dakang raises CNY 2.5 billion for acquisition of two New Zealand dairy farms
Hunan Dakang Pasture farming Co., Ltd announced that the company planed to raise CNY 2.51 billion through private placement for the acquisition of two New Zealand dairy farms.
Dakang, a company mainly engaged in production of pigs and feedstuffs, entered the dairy business in 2013.
Dakang says it will issue no more than 259 million shares at a price of CNY 9.69/share, the funds of which will be used to acquire two dairy farms in North Island of New Zealand.
It is expected that the annual production of solid milk in these two dairy farms will achieve 4.5 million kilogram after the acquisition is completed.