Chairman and management sell $102 million of stock in Shenzhou International

Investors show strong interest in the Chinese knitwear manufacturer and the deal is upsized by 20%.
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Shenzhou International makes knitwear for Uniqlo, Adidas and Nike
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<div style="text-align: left;"> Shenzhou International makes knitwear for Uniqlo, Adidas and Nike </div>

Two companies owned by the chairman and senior management of Hong Kong-listed Shenzhou International Group last night took some money off the table by selling HK$793 million ($102 million) worth of shares in the company, which manufactures fabrics and knitwear for brands like Uniqlo, Adidas and Nike

While small, the sell-down attracted strong interest among long-only investors and was upsized by 20% Despite that, the price was also fixed at the mid-point of the range Typically, when a deal is upsized, the price tends to end up at the low end to compensate for the larger number of shares

One reason for the demand is that the sale was viewed as a liquidity event The...

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