Chinese equipment leasing company Far East Horizon became the subject of the first Asian block trade this year when its parent company decided to trim its stake to below 30% through a HK$2.14 billion $276 million transaction.
The shares were placed with a small group of investors on Sunday and crossed in the Hong Kong market when the trading opened yesterday. The club-style execution is similar to a number of other deals in the second half of last year and suggests that banks will continue to look for out-of-the-box to solutions to get deals done, particularly when dealing with illiquid names.
This particular deal did come...
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