Investors last night turned out in force to get a piece of Tingyi Cayman Islands Holding as an undisclosed seller sought to monetise part of their holdings in the Chinese noodle maker. In line with other such sell-downs in recent weeks, the absolute size of the deal was small, but the strong demand prompted the bookrunner to go back to the seller and see if he was willing to provide more shares. As a result, the final size was increased by 33% to HK$353.6 million $45 million.
According to a source, even at the larger size the deal was multiple times covered by a very high quality group of investors, and...
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