Share price performance triggers block trade activity

Sell-downs in Geely Automobile, CP All and Sunac raise a combined $562 million, while a fourth deal in Apollo Hospitals remains open this morning to allow local Indian investors a chance to participate.

Despite a mixed day in the Asian stock markets, it turned out to be a busy evening with four block trades fighting for investors’ attention. The most surprising, in terms of timing, was a sell-down in India’s Apollo Hospitals Enterprise, which ignored the fact that the Indian markets were closed for a public holiday yesterday.

The Indian deal will be open to local investors this morning, but the other three raised a combined $562 million and attracted healthy demand a good sign at a time when some market participants were suggesting that the risk appetite may be starting to wane a bit.

The largest trade was a...

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