Indofood Sukses Makmur Purchases Stake in Minzhong Food Corporation Limited
Indofood Sukses Makmur is reported to purchase 14.95 percent of the issuance of 98 million new shares of Singapore-listed Minzhong Food Corporation Limited (CMFC), a Chinese integrated vegetable processing company. CMFC will issue new shares for a price of SGD $0.915 per share, a 9.93 percent discount compared to the company's share value last Friday. Indofood's purchase is regarded to spur its business development and distribution network.
During the last three years, CMFC has succeeded in reporting increased profits as well as expansion of its plantation area. Indofood is Indonesia's largest food processing company and the world's biggest producer of instant noodles.
Stock Performance Indofood Sukses Makmur:
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