cei-taps-market-while-preipo-investors-sell-shanshui-cement-again

CEI taps market, while pre-IPO investors sell Shanshui Cement again

China Everbright International raises $188 million, while Morgan Stanley Private Equity and CDH divest another $170 million of stock in Shanshui Cement.

Alongside the busy initial public offering calendar in Hong Kong, companies that are already listed and existing investors continue to take advantage of the current high share prices to replenish their coffers or -- in the case of the investors -- capture some of the profits they have racked up in recent months. The fact that the Hong Kong market took a breather yesterday with a 2.5% drop is only going to reinforce that trend as the fear of a market turnaround is likely to prompt anyone pondering an equity sale to act now, bankers say.

Among the latest such offers are a top-up placement in China Everbright International CEI and a sell-down by Morgan...

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