ADB exits India’s Petronet with $117m block

Asian Development Bank
By Rashmi Kumar
30 Sep 2014

Asian Development Bank has sold its entire stake in India’s Petronet LNG through a Rp7.14bn ($117m) block that priced on the morning of September 26, leading to the company’s share price taking a hit when trading began.

Supranational ADB has offloaded 39m shares, or 5.2% of the company in a clean-up trade that hit investors’ desk on late evening September 25. Books opened at 7pm Hong Kong time and closed at 9.30am the next day.

“We wanted to close up before India wakes up as ...

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