Like the block in property developer Greentown China Holdings last week, this Morgan Stanley-led follow-on was sold at a substantial discount to the most recent market price. But in light of the current unpredictable nature of the secondary market, and the fact that CGF is a volatile stock anyway, this was hardly surprising. The companyÆs share price has also rallied 215% since the beginning of May supported with a strong set of earnings. These gains include a sharp correction in the first two weeks...
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