Warburg Pincus trims Intime stake as stock hits record high

The private equity firm raises $133 million from its second sell-down in the Chinese department store operator in five months.

Warburg Pincus has joined the list of investors monetising their investments in Asia, selling just over one-third of its remaining stake in Hong Kong-listed Intime Department Store Group. The sale, which came as the Chinese department store operator closed at a record high, was the second by Warburg Pincus in this stock in just five months and saw the private equity firm raise HK$1.03 billion $133 million.

An investor in Intime before its initial public offering in 2007, Warburg Pincus offered 100 million shares at a price between HK$8.53 and HK$8.80, which represented a discount of 5% to 7.9% versus yesterday’s close. However, good demand from investors prompted the deal to...

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