Undisclosed investor sells $160 million in China Resources Enterprise

The sale is completed at a 7.9% discount during the lunchtime break.

An undisclosed institutional investor took the chance yesterday to sell HK$1.25 billion $160 million worth of shares in China Resources Enterprise ahead of what bankers in Hong Kong expect will be a busy fourth quarter. Several initial public offerings are set to start marketing within the next couple of weeks and there is a slew of listing hopefuls seeking to raise funds before the end of the year.

To beat the anticipated rush may therefore be a smart move...

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