Reverse enquiries drive KB Laminates block

Kingboard Chemical defied a recent run of weaker block trades in Hong Kong, selling $152 million of shares after the market close.

Reverse enquiries drive KB Laminates block

China's Kingboard Chemical sold HK$1.2 billion $152 million of shares in its Hong Kong-listed subsidiary Kingboard Laminates on Tuesday, taking advantage of massive investor interest on the back of its strong earnings report for the previous financial year.

One source familiar with the situation said the block sale was supported by existing shareholders as well as sovereign wealth funds, long-only investors, and hedge funds. The order book was well-subscribed with over 30 accounts....

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