Offer closed
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China Dairy Corporation operates in Heilongjiang province, China, and is focused on the production and wholesale of raw milk, and the rearing, breeding, and sale of dairy cows. As at 30 June 2015, the Company and its partners had access to approximately 40,000 cows with an aggregate raw milk production capacity of approximately 600 tonnes per day.
The Company has shown consistent growth with FY2015 revenue reaching approximately A$79.1 million representing a compounded annual growth rate (CAGR) of 19% since FY2013. Total comprehensive income for FY2015 was approximately A$39.5 million, representing a CAGR of 20% since FY2013.
The company is offering 100,000,000 CHESS Depositary Interests (CDI) at A$0.20 per CHESS Depositary Interest to raise a maximum subscription of at least A$15,000,000.
CDIs represent the beneficial interest in shares in a foreign company such as China Dairy Corporation. Each CDI will be equivalent to one share. The CDIs in this instance effectively allow fully paid ordinary shares in a Hong Kong established company to trade on ASX.
The funds raised in the offer will be applied by the Group to:
| ASX Ticker code | CDCXBB |
| Total offer | A minimum of A$15,000,000 upto a maximum of A$20,000,000 |
| CDIs offered | Up to 100,000,000 CHESS depositary interests |
| Available via ASX Bookbuild | A$1,000,000 |
| Issue price | $0.20 |
| Lead manager | Phillip Capital Limited ABN 14 002 918 247 |
| Stamping fee | 4% on allotment basis |
| Offer open | 11am on 20th November 2015 |
| Offer close | 18th March 2016 (the company reserves the right to close the offer early) |
| Allotment and issue of CDIs | 25th March 2016 |
| CDIs commence trading on ASX | 5th April 2016 |
| Company website | www.chinadairyco.com |
Carefully read the prospectus including all supplementary documents and the ASX Bookbuild Agreement
You must agree to the ASX Bookbuild agreement before proceeding.
To apply/cancel or amend your bid please contact our Dealing Desk on 1300 136 323
The above information has been extracted from multiple sources including the issuing company's website and the prospectus.
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Anyone who wants to acquire shares will need to carefully consider the offer and complete the CMC Markets Bookbuild Agreement before placing a trade.
For more information on ASX Bookbuilds please visit the ASX fact sheet at: www.asx.com.au/documents/professionals/ASX_Bookbuild_Brochure.pdf
