Block trades in AIA and Sands China raise $378 million

NWS becomes the first cornerstone investor to exit AIA through a $70 million trade after a 39.5% gain in the share price, while an institutional investor sells $308 million worth of shares in Sands China.

Block trades in AIA and Sands China raise $378 million
Photo: AFP

A 2.2% gain in the Hang Seng Index yesterday the biggest movement in an upward streak that has now lasted for six straight days triggered a couple of block trades in Hong Kong-listed companies last night. And investors responded well to both, even though the pricing was tight.

An undisclosed institutional shareholder offloaded HK$2.4 billion $308 million worth of shares in Macau casino operator Sands China, while NWS Financial Management Services became the first...

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