mengniu-shareholder-exits-amid-a-pickup-in-overnight-deals

Mengniu shareholder exits amid a pickup in overnight deals

The company's share price holds up well following the $175 million placement, which was completed at a 6.25% discount.
February 06, 2007
With Chinese New Year just around the corner, the overnight activity in the equity capital markets is showing signs of picking up again. Three deals were in the market on Monday night and bankers say the work behind the scenes suggests a few more are likely to come before the end of the week.

One of the three was China Mengniu Dairy, which saw 65 million of its shares change hands through a block trade as an existing shareholder decided to exit the company. The stake was quite small, at just under 4.8% of the company, but according to a banker it might have taken several weeks to sell it through the market since the...
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