Shoemaker Yue Yuen launches $98m block via Citi

30 Mar 2010

The founding family behind shoemaker Yue Yuen Industrial raised HK$758m ($98m) on Wednesday in a share placement arranged by sole bookrunner Citi.

Quicksilver Profits, a company controlled by the Tsai family, sold 30m existing shares in Yue Yuen at HK$25.25 a share, towards the low end of its HK$25-HK$25.75 target range.

That gave investors a discount of 6.5% to its last traded price on Tuesday before the stock was suspended.

The ...

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