Kakao, IMAX turn to blocks — with very different results

Equity investors barely murmured after a block from the Korean instant messaging app operator. But they gave a movie giant less-than-stellar reviews, sending its stock spiralling after its own block closed.
April 06, 2017

South Korea’s Kakao Corp and Hong Kong-listed IMAX China displayed vastly different aftermarket performances following a pair of successful block trades on Wednesday, reflecting the increasing market sensitivity to the valuations and long-term growth prospects of Asian stocks.

Both companies are well-known among Asian investors, with Kakao being the operator of Korea’s leading instant messaging app KakaoTalk, and IMAX China a high-flying movie and entertainment stock since listing in October 2015.

It did not come as a big surprise when CMC Capital Partners and FountainVest Partners announced their intention to sell their entire combined 5.9% stake in IMAX China late Wednesday. The two private equity...

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