Email Alerts(10 April 2012 – Hong Kong) Vinda International Holdings Limited (“Vinda International” or the “Company”, together with its subsidiaries collectively known as the “Group”; stock code: 3331) announced today that Svenska Cellulosa Aktiebolaget (“SCA”), the second largest shareholder of the Company, will increase its ownership in the Company by acquiring equivalent to 4.9 percent of the total issued share capital of the Company from Fu An International Company Limited (“Fu An”) at a price of HK$15 per share which commands a 22 percent premium over today’s closing trading price.
“As one of the best preferred tissue brands in the PRC, and now with a growing personal care product line, Vinda International’s success in China cannot be overlooked. Increasing our stake in Vinda is a natural and logical choice as SCA seeks to grow our foothold in the PRC. We are proud to be a strategic business partner of this flourishing company since 2007, even before its IPO, and we are thrilled to strengthen our ties with Vinda International which will no doubt bring great benefits to both companies“, says Jan Johansson, SCA’s President and CEO.
Chairman of Vinda International, Mr. Li Chao Wang adds, “We are excited to see SCA increasing their shareholding interest in the Company, a solid sign of its confidence in Vinda. SCA’s support over the years speaks volumes for Vinda’s competence in delivering top quality products and ever-improving market recognition. The Group will continue to strive to grow the business and capture market share gains so as to attain fruitful results for its stakeholders.”
CEO of Vinda International, Ms ZHANG Dong Fang, strongly agrees, “SCA is a forerunner in the global personal care and hygiene products business, a valuable resource Vinda should tap in our entry and operation in these businesses. We welcome SCA’s move and look forward to even closer co-operation in such areas including exploiting the technological edge it boasts, which should help propel the Company into a leadership position in such business space at an accelerated pace.”
Immediately after completion of the transaction, SCA’s stake will be increased from 17.71% to 22.61%. Fu An will remain as the single largest shareholder of the Company. The transaction is expected to be completed after a proposed top-up placing by the Company, particulars of which were announced today.