Springland backer reaps $80m from block sale

19 May 2013

Springland International Holdings squeezed in a block deal just before Friday’s public holiday in Hong Kong. The secondary sale was a response to reverse enquiry but was offered at deep discount due to the size of the trade.

The trade raised HK$622.5m ($80.2m) for selling shareholder CDH Resource, one of the company’s pre-IPO private equity backers, nearly halving its stake in the company to 7.04%.

Dealers have been aware of the demand for Springland for a while, but it was the company’s decision to put the ...

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