Based on the offer price, the value of Japfa’s interest in AustAsia is at 23 cents per share.
Japfa’s China-focused milk business, AustAsia Group or AustAsia Investment Holdings (AIH), has priced its shares to be issued under the global offering at HK$6.40 ($1.11) per share.
The offer price puts AustAsia’s market capitalisation at approximately HK$4.479 billion. This is assuming that the over-allotment option is not exercised, and the loan capitalisation and the issuance of new AustAsia shares in settlement of the share awards are completed.
