Thai fund sells $120 million stake in Central Pattana

Thailand Equity Fund offloads its remaining 4.9% stake in the Thai property developer at a 5.6% discount, while Chinese online video provider Tudou gets ready to price a US IPO of up to $180 million.
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CentralWorld in Bangkok, which opened in 2006, is Central Pattana's biggest shopping mall(AFP)</div>
<div class="ArticleImageCaption" style="text-align: left;"> CentralWorld in Bangkok, which opened in 2006, is Central Pattana's biggest shopping mall(AFP)</div>

A long-term shareholder sold its entire 4.9% stake in Thai commercial property developer Central Pattana last night in a deal that shows investors are looking for opportunities to put money to work.

Sure, global equity markets have gone through a significant correction during the past couple of weeks, but the past few sessions have brought a bit more stability and market watchers say there is a lot of interest in Southeast Asian markets in particular. Thailand, which is benefiting from a recovery in consumer confidence as political unrest has eased, is the second best performing equity market in the world year-to-date after Indonesia.

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