Carlyle puts HK$6b stake in China Pacific Insurance on the block

United States private-equity firm Carlyle is selling its remaining stake in China Pacific Insurance in a block trade that will raise up to HK$6.15 billion. The move comes amid a strong rally in the company's share price in recent weeks.

According to a term sheet obtained by the South China Morning Post, the Washington-based company is offering to sell 203 million shares in the third-largest insurer on the mainland.

The price range is set between HK$30 and HK$30.30, a discount of 3.3 to 2.3 per cent to the yesterday's close of HK$31 after it rose 0.32 per cent.

via Business feed http://www.scmp.com/business/china-business/article/1122495/carlyle-puts-hk6b-stake-china-pacific-insurance-block