Dairy Farm International Holdings will subscribe to China's supermarket operator Yonghui Superstores Co. private placement worth up to 6.5 billion yuan ($1.45 billion).
Dairy Farm, the Asian retail arm of Jardine Matheson, will invest about US$210 million ($291 million) in Yonghui's private placement via its wholly-owned unit The Dairy Farm Co., the companies said on Friday.
JD.com Inc, China's second-largest e-commerce site by sales, will acquire a 10% interest for about US$700 million, Dairy Farm said in a statement.
Dairy Farm will hold a 19.99% stake, while JD.com will own 10 percent following the placement.
"The co-operation with JD.com will accelerate Yonghui's participation in the rapidly expanding e-commerce space in China and offer significant opportunities for Yonghui," Dairy Farm said.
Yonghui Superstores plans to use the proceeds raised from the placement mainly for expanding its supermarket chain and logistics, it said in a Chinese-language statement on the Shanghai stock exchange.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
Dairy Farm, the Asian retail arm of Jardine Matheson, will invest about US$210 million ($291 million) in Yonghui's private placement via its wholly-owned unit The Dairy Farm Co., the companies said on Friday.
JD.com Inc, China's second-largest e-commerce site by sales, will acquire a 10% interest for about US$700 million, Dairy Farm said in a statement.
Dairy Farm will hold a 19.99% stake, while JD.com will own 10 percent following the placement.
"The co-operation with JD.com will accelerate Yonghui's participation in the rapidly expanding e-commerce space in China and offer significant opportunities for Yonghui," Dairy Farm said.
Yonghui Superstores plans to use the proceeds raised from the placement mainly for expanding its supermarket chain and logistics, it said in a Chinese-language statement on the Shanghai stock exchange.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
0 comments:
Post a Comment