Springland backer reaps $80m from block sale
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 companys 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 companys decision to put the ...Already a subscriber? Login