Sinochem trims stake in Far East Horizon

The club-style deal raises $276 million and is the first block trade to be completed in Asia this year.
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Sinochem is cutting its stake in Far East Horizon to below 30%
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<div style="text-align: left;"> Sinochem is cutting its stake in Far East Horizon to below 30% </div>

Chinese equipment leasing company Far East Horizon became the subject of the first Asian block trade this year when its parent company decided to trim its stake to below 30% through a HK$2.14 billion $276 million transaction.

The shares were placed with a small group of investors on Sunday and crossed in the Hong Kong market when the trading opened yesterday. The club-style execution is similar to a number of other deals in the second half of last year and suggests that banks will continue to look for out-of-the-box to solutions to get deals done, particularly when dealing with illiquid names.

This particular deal did come...

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