huabao-and-renhe-tumble-after-selldowns

Huabao and Renhe tumble after sell-downs

The chairman of Huabao sells $149 million worth of shares in the tobacco flavouring company, while three shareholders part with $87 million of stock in underground mall operator Renhe.

Sharp declines in the share prices of two Hong Kong-listed companies that were the subject of sell-downs by existing shareholders late last week shows that, irrespective of the stockmarket recovery in March and two successful IPOs over the past week, investor sentiment is still cautious. Investors may be willing to buy shares at a deep discount, but a key reason for many of them to do so seems to be the opportunity to make short-term profit.

Huabao International Holdings was first out with a placement of HK$1.16 billion $149 million on Thursday night as chairman Chu Lam Yiu sold a small part of her holdings in response to what was referred to as...

¬ 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 subscription (2-5 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 subscription (2-5 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