StanChart raises $211.5m from China Cinda block

Emerging markets bank sells 360 million shares in the mainland distressed debt manager just as Greece and its creditors reject revised plans for a debt deal.

Standard Chartered Financial Holdings defied tumbling markets in Europe to raise $211.5 million in a block trade in China Cinda Asset Management on Wednesday night in Hong Kong.

European stocks pulled back after Greece and its creditors rejected each other's revised plans for a debt deal. A proposal from Prime Minister Alexis Tsipras was turned down by Greece's creditors, who in turn handed the government new terms for a deal to unlock bailout funds.

In Asia, the backdrop was slightly more positive, with the Hang Seng Composite Index rising 1.2% this week, following a 0.38% decline last week. Shares in the distressed debt manager have...

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