China Resources Power shareholder exits near the record highs

CRP placement seen as well received amid positive sentiment for the sector, but Kerry Properties drops below placement price after parent sells stock at an aggressive discount.

Riding on a wave of positive sentiment surrounding the Mainland power producers, an institutional shareholder has sold HK$904 million $116 million worth of shares in China Resources Power.

The sale, which took place late Thursday October 5, represented about 3% of the outstanding capital and the entire stake held by the undisclosed shareholder. CLSA acted as sole bookrunner.

The offer initially comprised 50 million shares plus a greenshoe of 25 million shares, but in the wake of a...

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