An investment company wholly owned by Temasek last night sought to sell its entire stake in Chinese property developer Kaisa Group Holdings, taking advantage of a more than doubling in the share price during the past six months.
As of early this morning, the deal was still open, but sources said it was poised to price at the bottom of the offering range since that was where a number of large US orders were coming in. This should allow the Singapore investment company to raise HK$1.19 billion $153 million.
Temasek first invested in Kaisa in November 2007, two years before the company went...
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