Block trades continue to keep the market busy

GIC sells about half its stake in Champion Reit, while the controlling shareholder in Indorama Ventures is aiming to raise up to $226 million from a partial sell-down.

Yesterday saw four block trades in the market, including two deals out of Thailand. And three of the deals were led by UBS on a sole basis, making it an extremely busy evening for the Swiss bank.

The largest of the deals was a sell-down in Indorama Ventures, a Thai company that listed in January last year. It is the world's second largest producer of PET, which is used primarily to make drinks bottles, and is also active throughout the polyester chain. Other products include polyester fibre, which is mainly used in textiles and for industrial purposes such as conveyor belts and technical fabrics.

The seller, a special purpose vehicle owned by the...

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