Nongfu shareholder to up stake

Nongfu Spring (9633) said its controlling shareholder Yangshengtang plans to invest up to HK$2 billion to increase its stake in the beverage giant over the next six months.

Yangshengtang, which specializes in the pharmaceutical industry, directly holds about 66.82 percent of Nongfu Spring's shares. The company closed 1.3 percent higher at HK$33.75 per share yesterday ahead of the news release. Its share price has fallen 27 percent over the past two months to a two-year, four-month low.

Staff reporter