The Credit Suisse-led deal is interesting not only because it is the first placement in a Hong Kong-listed company since the equity market started recovering from the subprime-related correction, but also because it comes less than four months after Temasek bought shares in Greentown at a higher price.
The reason why the Singapore government-owned entity is selling so soon after that purchase was not disclosed to investors, and with no seat on the board, it was certainly free to exit at...
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