Three Southeast Asian blocks raise $697 million

The vice-chairman offloads 60% of his stake in Singapore-listed Noble Group, Dairy Farm increases the free-float in Indonesian supermarket chain Hero and UBS sells a 4.2% stake in Thailand’s CP Foods as part of the unwinding of a swap transaction.

It turned out to be a busy night in the Asian capital markets yesterday as three separate vendors wanted to get their deals done before a series of holidays in Southeast Asian this week.

Shrugging off a mainly negative market performance earlier in the day on the back of dismal growth data in Japan, the deals raised a combined $697 million.

The largest of the three transactions was a sell-down by UBS...

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