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...
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