American Dairy Chairman Leng You-Bin purchases about $1 million of common stock
By APThursday, March 18, 2010
American Dairy Chairman Leng You-Bin buys shares
LOS ANGELES — American Dairy Inc., which produces and distributes infant formula, milk powder and soybean, rice and walnut products in China, said Thursday that Chairman Leng You-Bin bought approximately $1 million of its common stock.
Leng purchased 47,890 shares priced between approximately $20.70 and $20.88 on Wednesday. He now holds about 8.9 million shares, or about 41 percent of American Dairy’s outstanding stock.
Shares of American Dairy gained 50 cents, or 2.4 percent, to $21.19 in midday trading. Over the past year, the stock has traded in a range of $11.81 to $44.
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