An institutional investor of Cosco Pacific LTD was selling $96 million worth of shares at a 5.2 percent to 6 percent discount to the firm's Tuesday closing price, according to a term sheet obtained by Reuters.
The unidentified holder was selling 56.69 million shares at HK$13.08 to HK$13.2 each, in a deal handled by Citigroup. The company's shares closed at HK$13.92 on Tuesday, up 1.02 percent, outperforming a 0.38 percent gain in the Hang Seng Index .HSI.
The unidentified holder was selling 56.69 million shares at HK$13.08 to HK$13.2 each, in a deal handled by Citigroup. The company's shares closed at HK$13.92 on Tuesday, up 1.02 percent, outperforming a 0.38 percent gain in the Hang Seng Index .HSI.