date:Nov 25, 2013
l coordinators and joint bookrunners of the IPO.
Mengniu has purchased $60m worth of YST stock, as a cornerstone investor.
YST plans to use 75% of the proceeds to establish five new farms, which are expected to be completed by 2015-end, while the remaining 15% will be used to upstream its operations.
As part of the expansion, the company plans to spend $226.5m in the new farms to increase its herd size to 100,000 by 2017 from around 39,000 in June 2013, reported Reuters.
In the first half of