renhe-placement-attracts-international-players

Renhe placement attracts international players

Five existing shareholders sell down their stakes after the company's share price rallies 75%, raising a combined $97 million.

A group of five existing shareholders teamed up to sell HK$756 million $97 million worth of shares in Renhe Commercial Holdings last night, and contrary to the company's initial public offering in October last year, this deal did get the attention of international institutions.

The 15% discount helped to rope in people, but the strong share price performance since listing and the fact that it has become a liquid stock also played a role in getting investors to place orders. In the end, more than 50 accounts participated in the deal, which accounted for 2.3% of the company and five to six days worth of trading volume.

Many investors would have been surprised and...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222