The investment vehicle of Pakistani meat producer Tariq Butt has sold its remaining 9.5 per cent stake in Wellard to private company Heytesbury, at a premium to the listed agribusiness's recent trading price.
Wellard chief executive Mauro Balzarini has sold a big chunk of his stake in the local agribusiness to a Chinese firm and repaid the company $16.3 million through his private investment vehicle.
Live cattle exporter Wellard is set to list at $1.39 per share, launching a prospectus to raise close to $300 million to give the business a market capitalisation of almost $560 million.
