Private equity firm KKR sold a 5.9% stake in Hong Kong-listed Far East Horizon FEH on Monday, becoming the second existing shareholder to conduct a stake sale of the group in less than a month.
KKR's HK$1.54 billion $198.6 million divestment follows a much smaller HK$507 million $65 million divestiture in mid-April when Singapore sovereign wealth fund GIC sold a stake in the Chinese leasing company.
Both offerings appear to have been timed to take advantage of strong share price appreciation over the past year, always a warning signal for potential investors. However, some analysts believe the rally still has plenty of room to...
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