Carlyle exits CPIC through $796 million block trade

The sale comes after sharp gains in the Chinese insurance company’s share price and pushes the total proceeds from Carlyle’s CPIC sell-downs above $5 billion.

Carlyle exits CPIC through $796 million block trade

On the back of sharp gains in Chinese insurance stocks during the past week, Carlyle Group last night sold its remaining shares in China Pacific Insurance Group Co, raising HK$6.17 billion $796 million.

The sale Carlyle’s fifth in Hong Kong-listed CPIC during the past three years had been widely expected ever since the private equity firm’s latest lockup expired in October and became almost inevitable after CPIC’s share price rallied 11.3% in...

To continue reading, please login or register for free

Print Edition

FinanceAsia Print Edition