Asia Pacific private equity investor Morgan Stanley Private Equity Asia (MSPEA) has sold a 6.8 percent stake in Sihuan Pharmaceutical Holdings, a China-based pharmaceutical manufacturer, along with the company’s management. The shareholders sold 100 million and 250 million shares, respectively, for a total sell-off of 350 million shares. Through the transaction, MSPEA reduced its stake from 7.17 percent to 5.24 percent, giving the firm a reported 5x return on its original investment. In 2009 MSPEA privatized the company from the Singapore stock exchange and re-listed it in Hong Kong in 2010.