hong-kong-placements-suggest-confidence-is-up

Hong Kong placements suggest confidence is up

Pre-IPO shareholders cash in $702 million worth of shares in Belle, while an undisclosed seller offloads $87 million of stock in Shenhua Energy.
A strong day in the Hong Kong stockmarket yesterday prompted shareholders of two major companies to sell part of their holdings, raising a combined $789 million. One might question why they are selling while the stocks are still well below their highs, but the two block trades in shoe manufacturer and retailer Belle International Holdings and coal miner China Shenhua Energy nevertheless sent positive signals to the market.

Belle was priced above the mid-point of the range, suggesting investors are prepared to pay a bit more to increase their exposure. The smaller Shenhua block was offered at one of the tightest discounts of any Hong Kong placement this year and even though it priced at...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222