The dairy giant has announced it cannot find a buyer for the entire shareholding, and was therefore hoping to sell a portion on the sharemarket.
In April this year Beingmate’s share price was at a year-high level of 8.17 yuan, but had since fallen to 4.94 on Wednesday.
The dairy giant paid $750 million for its 18.8 per cent shareholding in March 2015, in a bid to gain access to Chinese consumers for its infant formula.
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