date:Sep 10, 2013
he price range is equivalent to 14.5 to 17 times China Huishan's forecast earnings for 2014, in line with the P/E ratio of 16.9 times for China Modern Dairy, according to Reuters data.
Huishan Dairy has received commitments worth $220 million from three cornerstone investors - Norway's Norges Bank, Yili Group and Cofco Agricultural Industry Management - IFR added.
GROWING HERD
The capital-raising would allow Huishan Dairy, which has been in operation for more than 60 years, to expand its herd