COFCO PE unit to back Huishan Dairy IPO – report
The PE unit of Chinese food conglomerate COFCO will be among the cornerstone investors in milk producer China Huishan Dairy Holdings, which plans to list in Hong Kong in September.
According to The Wall Street Journal, Huishan Dairy plans to raise up to $1.3 billion by selling 3.79 billion shares at HKD2.28-2.67 apiece. That price range represents 14.5-17x its forecast 2014 earnings....
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