Luye Pharma, which held one of last year's most successful flotations in Hong Kong, has completed its first block trade, netting three of its pre-IPO investors $100 million.
The Government of Singapore Investment Corporation, also known as GIC, and private equity firms CDH Capital and New Horizon collectively sold 86.2 million shares at HK$9.00 per share under the joint leads of UBS and Morgan Stanley.
The shareholders had initially sought to sell the Luye Pharma shares at between HK$9.00 and HK$9.30 per unit, representing a discount range of 3.2% to zero relative to the share's January 14 closing price.
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