Hong Kong Sheng Yuan closed its unconditional mandatory cash offer to acquire all shares of China Kangda Food (SGX:P74, HKG:0834) that it does not already own on Dec. 19, according to a same-day filing with the Singapore Exchange.
The Hong Kong-listed shares of the food company were down over 5% in Monday trading.
The offer received valid acceptances for about 17.27% of the company's shares, taking the offeror and its concert parties' overall stake in China Kangda Food to around 71.95%.
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