Beijing Holdings BAIC lifts Wrightson stake

Wed, 29 Apr 2020

Beijing Holdings BAIC has continued to lift its stake in PGG Wrightson, buying another 755,000 shares for $1.9 million, an average price of $2.57 a share.The Hong Kong investment company, which is ultimately controlled by Beijing Capital Agribusiness and Foods Group, now owns 10 percent of Wrightson, up from 9 percent a week ago.BAIC has told Wrightson its investment in the Kiwi rural services firm is strategic and seeks to explore closer ties between New Zealand and China as an export market for agricultural goods.Wrightson shares rose 5.4 per...

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