Shui On, Digital China blocks cap busy week
Standard Chartered opted for a HK$520m block sale after unwinding an equity swap with the chairman of Shui On Land last Thursday, and Digital China’s chairman came to the market with his own deal on the same day, capping a frenetic week for bankers in Asia’s ECM market.
Standard Chartered, which was the sole bookrunner of the deal, sold around 142m shares that it held in Shui On for HK$3.66 each, in the middle of a HK$3.62-HK$3.70 price range. That gave investors a discount of around 5.18% to the stocks last closing price.
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