Chairman Increases His Stake in the Company
Hong Kong, May 26, 2016 AEST (ABN Newswire) - The world's largest monosodium glutamate (“MSG”) and xanthan gum producer, Fufeng Group Limited ("Fufeng" or the "Company", together with its subsidiaries, the "Group") (
HKG:0546) today announces that Mr. Li Xuechun, the controlling shareholder and Chairman of Fufeng, purchased 3.094 million shares of Fufeng, with an average price of HK$2.178 per share, during the period from 16 May 2016 to 24 May 2016, from the open market. The purchased shares account for 0.15% of the outstanding shares of the Company.
After the share purchase, Mr. Li owns 966,436,461 shares of the Company, accounting for 45.44% of total outstanding shares of the Company.
Commenting on the increase in stake, Mr. Li Xuechun said, “As the Chairman, I am very confident of the development of the Group.”
About Fufeng Group Limited
Fufeng Group (
HKG:0546) is the world's largest producer of MSG, xanthan gum and a major supplier for a series of bio-fermentation products. The main products of the Group are food additives, animal nutrition, colloid and high-end amino acids. In fiscal 2016, Fufeng generated sales of approximately RMB11.2 billion and profit attributable to shareholders of about RMB1.09 billion. For more information, please visit our website www.fufeng-group.com
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