China Everbright International sells $162 million of new shares

The China-based water treatment and alternative energy company prices its top-up placement near the mid-point for an 8% discount. Meanwhile, HSBC sells its entire stake in India’s Federal Bank, raising $61 million.
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A government official drinks water that has been converted from sewage water at a treatment plant in Chongqing (Imaginechina) </div>
<div style="text-align: left;"> A government official drinks water that has been converted from sewage water at a treatment plant in Chongqing (Imaginechina) </div>

Yesterday turned out to be a busy day in the Asian equity capital markets. This is to be expected as more stocks become eligible for sale following the expiry of blackouts around first-half or second-quarter earnings announcements.

Aside from Permira’s $755 million sell-down in Galaxy Entertainment last night, China Everbright International CEI was also in the market yesterday with a top-up placement that raised $162 million. And, in India, HSBC sold its 4.98% stake in Federal Bank through a block trade that launched late on Monday but priced yesterday morning, raising Rs3.41 billion $61 million.

China Everbright International
Hong Kong-listed CEI is involved in...

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