Citi exits HDFC

Citi exits HDFC through $1.9 billion block

The transaction ranks as the largest block trade in Asia ex-Japan this year and follows a smaller sell-down by Citi in June. Meanwhile, Dewan Housing issues $62 million of new shares in India's first QIP of size this year.

<div style="text-align: left;"> Citi's sell-down significantly increases the liquidity in HDFC's stock </div>

Anette Jönsson

February 27, 2012

Citi sold its remaining stake in India’s Housing Development Finance Corp (HDFC) on Friday through a Rs95.51 billion ($1.9 billion) self-led block trade that is by far the largest primary equity transaction in Asia ex-Japan so far this year.

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