Placements in Gome, SK Telecom as regional markets rally

Gome free-float back above 25% as chairman sells $160 million worth of stock; Posco reduces stake in SK Telecom.
Rallying stock markets around the region triggered a couple of secondary share placements yesterday April 6 as existing owners took advantage of favourable prices to trim their stakes.

In Hong Kong, the chairman of Gome Electrical Appliances Holding raised HK$1.25 billion $160 million by selling 140 million shares at an 8.7% discount to the latest closing price. The placement had been anticipated after Chairman Wong Kwong-yu sold his remaining 35% stake in Gome Appliance to the listed company last week. The purchase was partially paid for with Gome shares and resulted in GomeÆs free float falling below the required 25%.

This transaction will increase the free-float to about 30.4% and see WongÆs stake in...
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