Haixia Seeks Up to $881 Million Selling Its Haitong Stake
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Haixia Capital Management Co., a Chinese state-backed investment firm, is seeking as much as $881 million selling its entire stake in Haitong Securities Co. at a discount of as much as 20 percent.
A fund managed by Haixia Capital is offering 569.4 million shares of the Chinese brokerage at HK$11.12 to HK$12 each, according terms for the deal obtained by Bloomberg. The price range represents a 13.7 percent to 20 percent discount to Haitong’s last close in Hong Kong.