Comvita share placement lifts Chinese investor's stake to 9%

Fri, 21 Oct 2016

By Pattrick Smellie Oct. 21 (BusinessDesk) - Manuka honey and health products company Comvita has placed some 2 million ordinary shares with China Resources Ng Fung, taking the Shenzhen-based Chinese food giant's stake from less than 5 percent to around 9 percent. The move would "strengthen working capital and provide funding to support several strategic initiatives currently under consideration by Comvita," the company said in a statement to the NZX after close of trading today, and will give it access to the Chinese firm's huge distribu...

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