china-unicom-shareholder-exits-via-block-trade

China Unicom shareholder exits via block trade

The $310 million transaction is priced at the mid-point of the range, resulting in a 5.2% discount.
An existing shareholder of China Unicom last night raised HK$2.42 billion $310 million from the sale of its entire stake in the company. Observers say more of these types of sell-downs can be expected in the coming weeks as investors tidy up their books for the year end.

Despite the recent volatility, the Hong Kong market has had a good run this year with the benchmark Hang Seng Index up 45% and many investors are sitting on sizeable gains, making a partial sell-down a tempting option amid the increasing uncertainty about the outlook for next year.

Last week, Temasek Holdings reduced its stake in three Hong Kong-listed companies through separate block trades, raising in...
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