Sinochem trims stake in Far East Horizon

The club-style deal raises $276 million and is the first block trade to be completed in Asia this year.

Sinochem trims stake in Far East Horizon

Chinese equipment leasing company Far East Horizon became the subject of the first Asian block trade this year when its parent company decided to trim its stake to below 30% through a HK$2.14 billion $276 million transaction.

The shares were placed with a small group of investors on Sunday and crossed in the Hong Kong market when the trading opened yesterday. The club-style execution is similar to a number of other deals in the...

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