At the market's convenience

BNP Paribas Peregrine and CLSA completed a HK$187 million ($24 million) placement of shares of Convenience Retail Asia (CRA), late Wednesday. The deal sees Li & Fung - the Hong Kong trading group - sell almost 14% of the existing share capital of Convenience Retail Asia, taking its stake down from 70% to 56% and increasing the public float from 26% to 40%.