Ajisen founder sells $125 million of shares to boost liquidity

The Ajisen share sale follows reverse inquiries from investors and is upsized due to strong demand.
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Ajisen's ramen noodles are popular both with customers and investors. (AFP)</div>
<div class="ArticleImageCaption" style="border-width: 0px; text-align: left; padding: 0px; font-size: 9pt; color: rgb(119, 119, 119);"> Ajisen's ramen noodles are popular both with customers and investors. (AFP)</div>

A block of shares in Ajisen China Holdings worth HK$971.6 million $125 million changed hands on Friday as Daisy Poon, the founder, chairwoman and CEO, responded to reverse inquiries from investors who wanted access to more stock. The price was fixed close to the bottom of the offering range for a 9.8% discount, but demand was strong and the deal was upsized from about $100 million initially.

Ajisen, a mid-cap operator of high-end, fast-food noodle restaurants in Greater China, has been popular with investors since it listed in Hong Kong in 2007, but with a daily trading volume of only $4 million, larger funds have found it difficult...

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