parkson-shareholder-trims-stake-after-strong-share-price-gains

Parkson shareholder trims stake after strong share price gains

Lasting interest in Chinese retail concept stocks and a strong day in the market sees the department store operator attract a healthy level of demand.
The controlling shareholder of China-based department store operator Parkson Group has sold HK$1.34 billion $171 million worth of existing shares in the company in a move that appears to take advantage of the doubling in the share price since its listing.

The placement was the first by a Hong Kong listed company since tobacco flavouring firm Huabao International Holdings sold $196 million worth of shares in early August. It also coincided with a strong day in the local equity market that saw the Hang Seng Index add 160 points to return above the 17,000-point mark, which helped to boost interest in the sale.

The China retail sector remains a ôhotö sector with investors as...
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