Beingmate shares drop to 2 1/2 year low in Chinese stock rout

Tue, 25 Aug 2015

By Paul McBeth Aug. 25 (BusinessDesk) - Beingmate Baby & Child Food Co shares fell to their lowest since February 2013, after being caught up in the global share-market rout that's dented Chinese equity markets, slicing more than $200 million from Fonterra Cooperative Group's investment in the Hanzhou-based infant formula maker. The Shenzhen stock exchange-listed shares dropped 10 percent to 11.87 Chinese yuan, the lowest level since New Zealand dairy exporter Fonterra paid 18 yuan a share for an 18.8 percent stake in the Chinese infant f...

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