China Minzhong seeks trading halt as public float falls below 10%
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VEGETABLE processor China Minzhong Food Corporation has requested immediate suspension of trading in its shares, with the public float falling below the required 10 per cent after the privatisation deal by its majority shareholder closed on Thursday.
Marvellous Glory Holdings, a special vehicle led by Indonesian tycoon Anthoni Salim, had offered to take China Minzhong Food private. Mr Salim has been the majority shareholder in the Chinese company through Jakarta-listed Indofood.
Marvellous Glory offered S$1.20 for each share in China Minzhong Food, in a deal that valued the Chinese company at S$786 million.
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