CP Group raises $315 million from sale of shares in CP All

The deal comes shortly after the Dhanin Chearavanont-controlled seller receives regulatory approval to buy HSBC’s stake in Ping An Insurance.
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Dhanin Chearavanont, the richest man in Thailand, controls CP Group
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<div style="text-align: left;"> Dhanin Chearavanont, the richest man in Thailand, controls CP Group </div>

Three weeks after the Charoen Pokphand Group won approval to buy HSBC’s remaining 15.57% stake in Ping An Insurance, the Thai conglomerate was in the equity market raising cash from a sell-down in its Bangkok-listed subsidiary CP All, the owner of the 7-Eleven franchise in Thailand.

The transaction, which launched just after 7pm Hong Kong time on Thursday and was completed late the same evening, raised Bt9.4 billion $315 million. The seller didn’t tell investors what it will use the proceeds for as a privately owned company it doesn’t have to but it is not too far-fetched to expect that the fundraising is related to the $9.4 billion...

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