Renhe placement attracts international players

Five existing shareholders sell down their stakes after the company's share price rallies 75%, raising a combined $97 million.

A group of five existing shareholders teamed up to sell HK$756 million $97 million worth of shares in Renhe Commercial Holdings last night, and contrary to the company's initial public offering in October last year, this deal did get the attention of international institutions.

The 15% discount helped to rope in people, but the strong share price performance since listing and the fact that it has become a liquid stock also played a role in getting investors to place...

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