baring-exits-hidili-four-weeks-after-ipo

Baring exits Hidili four weeks after IPO

The pre-IPO investor receives a waiver that allows it to sell its remaining 11% in the coking coal producer through a placement.

The sale by Baring Private Equity of its remaining 220 million shares in coking coal producer Hidili Industry International Development on Monday achieved one of the lowest placement discounts by a Hong Kong-listed company over the past month, but that is not primarily why it has attracted so much attention.

What market participants were talking about yesterday was the fact that the firm was able to sell in the first place - less than one month after HidiliÆs trading debut on September 21 û given that it had agreed to a six-month lock-up.

The mechanics is easy enough to understand The lock-up is a commitment...

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