china-resources-power-shareholder-exits-near-the-record-highs

China Resources Power shareholder exits near the record highs

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October 08, 2006
Riding on a wave of positive sentiment surrounding the Mainland power producers, an institutional shareholder has sold HK$904 million $116 million worth of shares in China Resources Power.

The sale, which took place late Thursday October 5, represented about 3% of the outstanding capital and the entire stake held by the undisclosed shareholder. CLSA acted as sole bookrunner.

The offer initially comprised 50 million shares plus a greenshoe of 25 million shares, but in the wake of a very strong response in the market the seller decided to dispose of the rest of his shares as well. This increased the total offer to 113 million shares.

The price was fixed at HK$8,...
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