China’s WH Group Ltd (0288.HK), the world’s largest pork supplier, said on Friday Chinese private equity investor CDH Investments plans to sell an aggregate HK$10.6 billion ($1.37 billion) worth of shares in the company to unidentified third-party investors.
CDH plans to sell 1 billion WH shares at HK$6.25 each, reducing its stake in the company to 12.94 percent from 19.77 percent, WH Group said in a filing to the Hong Kong bourse, confirming a report by Reuters publication IFR.
The Chinese private equity investor may sell a further 697.2 million shares, or 4.76 percent of WH, at the same price, lowering its stake to 8.18 percent, the pork company added.
WH shares ended at HK$6.79 on Thursday.
Morgan Stanley & Co. International plc is the placing agent.
(Reporting by Donny Kwok; Editing by Kenneth Maxwell)
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Source: Reuters.com
