The controlling shareholder of Gome Electrical Appliances returned to the equity markets yesterday December 14 with an upsized $176 million offering via ABN AMRO, which also led its IPO in July and first placement in September.
A deal was prompted by an overhang in Gome shares as a result of a convertible held by controlling shareholder Wong Yu Kwang who owned 74.9% pre deal and 65.6% post deal. The lead went out with a base deal size of 157 million old shares and an upsize option of 31.5 million shares. It then added a second upsize option of 31.5 million and sold a total of 220 million shares, representing 13.4%...
