CDH trims stake in Belle with $131 million block trade

The deal draws strong demand and is upsized by 40% to price at the top of the range for a 4.1% discount, even though the share price has gained 13.9% this week.

CDH trims stake in Belle with $131 million block trade

Private equity fund CDH Retail yesterday sold close to one-third of its remaining stake in Hong Kong-listed Belle International Holdings, taking advantage of a massive share price gain this week. Coming on a day when Asian markets rallied strongly, the block attracted strong demand, which prompted the bookrunners to close the order books after just 30 minutes.

The deal was priced at the top of the indicated range for a 4.1% discount to the latest...

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