Controlling shareholders sell $136 million of Cleanaway shares

The controlling shareholders of Cleanaway, a Taiwanese company specialising in treatment and disposal of hazardous and non-hazardous industrial waste as well as the cleaning up of contaminated sites, have sold NT$4 billion $136 million worth of shares in the company.

It was the first time that chairman Yang Ching-Hsiang and his family reduced their stake since the company listed on the Taiwan Stock Exchange in October 2011. According to sources, the deal was prompted by reverse inquiries from four separate investors and meant that the majority of the placement was covered before launch.

This may explain why Goldman Sachs, which acted as the sole bookrunner,...