China’s largest pig farmer Guangdong Wens Foodstuffs Group plans to invest up to Rmb1 billion $147 million in a subsidiary of Chinese agribusiness giant Cofco Group, Guangdong Wens said in a statement to the Shenzhen stock exchange on Tuesday.
Guangdong-based Wens will put between RMB800 million and RMB1 billion into Cofco Capital, the finance unit of the state-owned enterprise. Wens expects the investment to help bolster its business by working more closely with Cofco, it said in the statement.
Cofco announced in April that Cofco Capital was seeking to raise 8 billion yuan, half of it from private sector investors. The conglomerate is...
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