HKEx pulls off rapid $1bn block to fund LME buy

03 Dec 2012

Hong Kong Exchanges and Clearing raised $1bn on Thursday night after launching a block trade to raise money for its acquisition of the London Metal Exchange. The UK Financial Services Authority approved the sale on Thursday, and Hong Kong officials wasted no time in turning to investors for financing.

The hotly-anticipated deal was many times oversubscribed as both existing and new investors across the globe rushed to get a piece of the acquiring exchange. This strong demand allowed the deal to be increased from a mooted $800m to a final size of $1bn.

“This was a very international ...

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