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...
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