great-eagle-director-sells-his-private-stake-for-192-million

Great Eagle director sells his private stake for $192 million

Arrangers DBS Asia Capital double the size of the initial offer as investors covet a special dividend.

By Anette Jönsson

October 02, 2006

A member of the family that controls Hong Kong property investor and developer Great Eagle Holdings has sold his entire 9.2% stake in the company to raise money to refinance some of his other investments.

The HK$1.49 billion $192 million sale, which took place on Friday as the share price traded close to a record high, risked upsetting investors who might think that the Lo family is selling because the share price has reached its peak. The same accusations were levelled at the company four months ago when it spun-off its office developments in the Champion Real Estate Investment Trust. That stock has so far been less than successful, currently trading 24% below the...

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