Baring Private Equity last night sold its remaining shares in Taiwan-based Airtac International Group, raising NT$1.89 billion $64 million. It was a small trade particularly to begin with but it still attracted the interest of almost 30 investors, which allowed the deal size to be almost doubled from the initial plan.
The seller initially offered to sell 5.8 million shares, which accounted for 53.5% of Baring’s remaining stake, but when the level of demand became clear it decided to go ahead and sell its entire position. Notably it was able to do so while still fixing the price at the top end of the range.
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