DFI’s shares are indirectly held through its subsidiary in Yonghui Superstores. Shares in the latter are listed on the Shanghai Stock Exchange while shares in Miniso are listed on the Hong Kong Stock Exchange (HKEX) and New York Stock Exchange (NYSE).
DFI Retail Group may have to account for a one-off loss of around US$130 million ($166.9 million) after its divestment of shares in Yonghui is completed, says the DBS Group Research team. This is based on the carrying value of US$765 million as of the end of June. The Citi Research team pegs the one-time loss at US$127 million.
On Sept 23, DFI announced that it will be divesting its entire 21.1% stake in Yonghui to Miniso for RMB4.5 billion ($823.3 million). The price works up to about RMB2.35 per share over DFI’s 1.91 billion shares, or 4% higher than the RMB2.25 as at the close of Sept 23.
