Private equity fund CDH Retail yesterday sold close to one-third of its remaining stake in Hong Kong-listed Belle International Holdings, taking advantage of a massive share price gain this week. Coming on a day when Asian markets rallied strongly, the block attracted strong demand, which prompted the bookrunners to close the order books after just 30 minutes.
The deal was priced at the top of the indicated range for a 4.1% discount to the latest close and a total deal size of HK$1.02 billion $131 million.
An upsize option of 20 million shares was also exercised in full, which increased the base offering by 40%...
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