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RTNominal up0.550 +0.010 (+1.852%)

04/10/2021 09:16

China Shengmu (01432) to build JV for feed processing base

[ET Net News Agency, 4 October 2021] China Shengmu Organic Milk Limited (01432) said
Inner Mongolia Shengmu, an indirect wholly-owned subsidiary of the company, has entered
into the investment agreement with Modern Farming, Mudanjiang Wanding Dairy and Mudanjiang
Inland Port, in relation to the proposed formation of the joint venture in connection with
the construction of a feed processing base in the Mudanjiang Economic and Technology
Development Zone Bonded Logistics Park of the PRC.
The registered capital shall be RMB100 million. The amount of capital contribution to be
paid by each of Modern Farming, Mudanjiang Wanding Dairy, Mudanjiang Inland Port and Inner
Mongolia Shengmu shall be RMB51 million, RMB22 million, RMB20 million and RMB7 million,
respectively. Accordingly, each of Modern Farming, Mudanjiang Wanding Dairy, Mudanjiang
Inland Port and Inner Mongolia Shengmu will hold 51%, 22%, 20% and 7% of the equity
interest in the joint venture, respectively. (RC)

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