US private equity firm Carlyle offloaded its entire stake in Haier Electronics Group, cashing in on a near four-year investment in the Chinese home appliances company.
Since the US private equity firm made the investment in August 2011, Haier shares have gained more than 160%.
Carlyle took advantage of a 26% 11-day jump in Haier’s shares to launch the block, as investors continued to flood the Hong Kong market following the announcement last week by mainland regulators that Chinese mutual funds will be allowed to participate in the Shanghai-Hong Kong Stock Connect programme.
The share sale launched Wednesday evening in Hong Kong under...
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