CP Group raises $315 million from sale of shares in CP All

Three weeks after the Charoen Pokphand Group won approval to buy HSBC’s remaining 15.57% stake in Ping An Insurance, the Thai conglomerate was in the equity market raising cash from a sell-down in its Bangkok-listed subsidiary CP All, the owner of the 7-Eleven franchise in Thailand.

The transaction, which launched just after 7pm Hong Kong time on Thursday and was completed late the same evening, raised Bt9.4 billion $315 million. The seller didn’t tell investors what it will use the proceeds for as a privately owned company it doesn’t have to but it is not too far-fetched to expect that the fundraising is related to the $9.4 billion...