CDH sells WH Group block before lockup expires

Chinese private equity firm breaks lockup by returning to market with a new $806 million deal only two months after its last divestment.

CDH Investments made an unexpectedly early return to market with the divestment of roughly one third of its stake in Hong Kong-listed WH Group on Thursday. The private equity firm was back with a HK$6.25 billion $806 million sale only two months after a previous sale of the pork producer’s shares in late August.

At that time, the PE firm raised $900 million from the sale of 1.17 billion shares and agreed to a six-month lockup. This meant it should not have been able to conduct another deal until February next year.

However, the move is not without precedent and allowable if a company...

¬ 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