Carlyle sells another $989 million of CPIC stock

The widely expected deal comes a couple of weeks after Carlyle's latest lockup expires and marks its third sell-down in China Pacific Insurance in seven months.

Carlyle sells another $989 million of CPIC stock
Carlyle started selling down its stake in CPIC in December last year (ImagineChina)

Carlyle Group has raised a further HK$7.7 billion $989 million from the sale of shares in China Pacific Insurance Group Co CPIC its third sell-down in just seven months.

The deal, which was completed late on Tuesday night Hong Kong time, came a couple of weeks after Carlyle’s previous lockup expired and shortly before the start of a month-long share sale blackout period related to the company’s upcoming six-month earnings release.

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