China Modern Dairy Holdings Limited’s US$200 Million Shares Placing


Slaughter and May, Hong Kong, is advising China International Capital Corporation Hong Kong Securities Limited and CMB International Capital Limited.

China International Capital Corporation Hong Kong Securities Limited acted as settlement agent and placing manager, and CMB International Capital Limited as placing manager, in relation to the placing of 650,000,000 new ordinary shares in China Modern Dairy Holdings Limited (“China Modern Dairy”) announced on 20 January 2021, raising HK$1,552 million (approximately US$200 million).

The placing represents an opportunity to raise capital for the business development of the China Modern Dairy Group and to expand the shareholder base of China Modern Dairy.

The net proceeds of the placing will be used for infrastructure development and herd expansion, potential mergers and acquisitions and general working capital.

China Modern Dairy is currently the largest leading dairy farming company and the largest producer of raw fresh milk in the PRC in terms of the herd scale and volume of annual production. It has been listed on the Main Board of the Stock Exchange of Hong Kong since 2010.

Slaughter and May’s team included Benita Yu (Picture), Partner, John Moore, Partner, Jianhao Zheng, Counsel, Esther Yee, Counsel, Clare Tsang, Associate, Yitian Jin, Associate and Florence Ha, Trainee.

Involved fees earner: Yitian Jin – Slaughter and May; John Moore – Slaughter and May; Clare Tsang – Slaughter and May; Esther Yee – Slaughter and May; Benita Yu – Slaughter and May; Jianhao Zheng – Slaughter and May;

Law Firms: Slaughter and May;

Clients: China International Capital Corporation Limited (CICC); CMB International Capital Limited;

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Author: Michael Patrini