At the market's convenience

Li & Fung completes a long awaited secondary offering of its stake in Convenience Retail Asia.

BNP Paribas Peregrine and CLSA completed a HK$187 million $24 million placement of shares of Convenience Retail Asia CRA, late Wednesday. The deal sees Li Fung - the Hong Kong trading group - sell almost 14% of the existing share capital of Convenience Retail Asia, taking its stake down from 70% to 56% and increasing the public float from 26% to 40%.

The deal comes just over two years after CRA was listed on Hong Kong's second board, the Growth Enterprise Market GEM. Li Fung management have been saying for some time that they wanted to sell down their stake but due to the listing requirements of the GEM,...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222