Source:
https://scmp.com/article/196612/ng-fung-hong-buys-stakeNg Fung Hong buys stake
Red chip Ng Fung Hong has agreed to buy a 51 per cent stake in China International Fishery Corp, which operates a marine fishing project in West Africa, for about US$80 million.
The price represents a price-earnings multiple of about eight times.
The purchase signals the company's diversification into fishing and seafood processing from its core livestock and frozen food trading operation.