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China Minzhong Food surges on buyout offer

Hot Stock

China Minzhong Food surges on buyout offer

PC Lee Published on Wed, Sep 07, 2016 / 3:45 PM GMT+8

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SINGAPORE (Sept 7): Shares of China Minzhong Food were up as high as 20% to $1.15 this morning.

This comes after a company controlled by Indonesian billionaire Anthoni Salim to buy all the shares in the vegetable processor that it does not already own.

China Minzhong Food says Marvellous Glory Holdings intends to make an offer to acquire all its shares if certain conditions are met by December.