An undisclosed institutional investor took the chance yesterday to sell HK$1.25 billion $160 million worth of shares in China Resources Enterprise ahead of what bankers in Hong Kong expect will be a busy fourth quarter. Several initial public offerings are set to start marketing within the next couple of weeks and there is a slew of listing hopefuls seeking to raise funds before the end of the year.
To beat the anticipated rush may therefore be a smart move for an investor who is looking to cash in part of its portfolio -- even if it does mean missing out on a few potential fund managers who are still on holiday.
Indeed, the relatively...
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