Japfa to list China dairy unit in Hong Kong; proposes distribution-in-specie of its shares

Singapore

AGRI-FOOD company Japfa has applied to list its dairy unit in China, AustAsia Investment Holdings, on the mainboard of the Stock Exchange of Hong Kong.

As part of a capital reduction exercise related to the listing, Japfa is also proposing a distribution-in-specie of its entire shareholding in AustAsia, which will see eligible shareholders receiving AustAsia shares in proportion to their respective shareholdings in Japfa.