Yuzhou tumbles as block supply slows, secondary spooks investors
Asian ECM bankers are still working through a heavy flow of block sales, but they now say the pace of issuance is slowing down after a frenetic start to the year. Bankers have also started to become more wary of shaky secondary markets.
Two shareholders in Yuzhou Properties raised a combined HK$399.1m from a block sale, and Comtec Solar Systems Group, Sunac China Holdings and Silver Base Holdings closed top-up placements this week.
Harmonic Winner and Lin Meiyu sold around 166.2m shares in Yuzhou between them, representing around 5.78% of the company.
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