The financing will go towards a $143-million project for expanding the aquafeed capacity of Alpha Feed in China and Vietnam.
Experienced local recruits tend to prefer state-backed firms as they offer big one-time commissions.
The move is a part of its restructuring exercise, said sources.
Policy & Regulations
Wealth management products will be banned from holding shares in securities firms.
The Series C funding will bring the company's total external capital raising to $80 million.
The fund will invest in industry-leading profitable, growth-stage consumer or sports-focused companies.
Fujia Group will take a 51% controlling stake after the deal.
Fosun will focus on areas such as healthtech, insurtech and fintech.
At $35 billion, the volume of Chinese outbound M&A is the lowest tally for the first six months of the year since 2013.
IPOs & Markets
Feihe first applied for a Hong Kong listing in May 2017 but the IPO was shelved following its acquisition of US-based Vitamin World.
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