China Cord Blood (CO) Shareholder Heng Ren Seeks $3.13/Share Special Dividend

Heng Ren Investments is calling on China Cord Blood (NYSE: CO) to end a 16-month buyout ordeal, and compensate shareholders with a special dividend of $3.13 per share.

"Now is an opportune time for a fresh start," Heng Ren's Peter Halesworth stated. "This is CCB’s opportunity to become the public company it is destined to be – a stable, high margin, strong cash flow generator that is so successful, management can fairly share its wealth with shareholders to further their interests, and by doing so, achieve a premium valuation for the company for the benefit of all of us."

"We strongly believe there is considerable value in CCB and it would be very worthwhile to pursue this premium valuation multiple. For example, China Biologic Products Inc. (NASDAQ: CBPO) with a market capitalization of $3.15 billion, has earned a lofty multiple of 52x trailing 12-month free cash flow ($60 million)."

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