Celltrion Healthcare overnight block fetches $356m

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By John Loh
19 Sep 2018

A private equity investor sold down its stake in South Korea’s Celltrion Healthcare on Tuesday evening to raise W401.3bn ($356.4m), with the shares so highly coveted that all orders had to be reined in aggressively.

One Equity Partners launched the overnight share sale through sole bookrunner UBS. The vendor offered 4.4m secondary shares in Celltrion, a biosimilar and biopharmaceuticals wholesaler.

The shares were marketed at between W90,100 and W92,100 each, for a discount of 6.9% to 9.0% to the last close of W99,000. ...

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