Luxury story, regulations fuel demand for Zhengtong Auto block
China Zhengtong Auto Service Holding raised HK$3.13bn ($401.6m) last week, closing the latest of a recent flurry of block trades in Hong Kong and getting enough demand to increase the deal by 50%.
Investors were keen to get exposure to the luxury car dealership thanks in large part because of expectations of fast growth in the sector. But domestic regulations that favour luxury car dealerships over cheaper ones also helped drum up demand, said bankers.
Chinese regulations limit licenses to just
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