Carlyle sells another $989 million of CPIC stock

The widely expected deal comes a couple of weeks after Carlyle's latest lockup expires and marks its third sell-down in China Pacific Insurance in seven months.
<div style="text-align: left;">
Carlyle started selling down its stake in CPIC in December last year (ImagineChina)
</div>
<div style="text-align: left;"> Carlyle started selling down its stake in CPIC in December last year (ImagineChina) </div>

Carlyle Group has raised a further HK$7.7 billion $989 million from the sale of shares in China Pacific Insurance Group Co CPIC its third sell-down in just seven months.

The deal, which was completed late on Tuesday night Hong Kong time, came a couple of weeks after Carlyle’s previous lockup expired and shortly before the start of a month-long share sale blackout period related to the company’s upcoming six-month earnings release.

The US private equity investor wasn’t able to realise quite as much money for each share as it did in its previous sale in January, but by selling now it avoided clashing with an extensive...

¬ Haymarket Media Limited. All rights reserved.

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