Geely Falls After Goldman Sachs Sells Stake: Hong Kong Mover
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Geely Automobile Holdings Ltd. fell the most in three months in Hong Kong trading after Goldman Sachs Principal Investment Area sold shares at a 7.8 percent discount.
The Volvo Car affiliate fell as much as 4.5 percent, the most on a closing basis since Aug. 22, to HK$3.51 and traded at HK$3.49 as of 10:45 a.m. local time. Goldman Sachs Principal Investment Area sold 600 million shares at HK$3.30 each, the low end of a marketed price range, according to a person with knowledge of the matter. The Standard newspaper reported that the fund was seeking to sell shares earlier today.