Sands, AIA blocks

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.
<div style="text-align:right; font-size: 7pt; color: rgb(119, 119, 119);"> Photo: AFP</div>
<div style="text-align:right; font-size: 7pt; color: rgb(119, 119, 119);"> Photo: AFP</div>
June 01, 2011

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.

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