PAG to Exit Haitong Securities via US$219 Million Sell Down (Asia)
Source: Asian Venture Capital Journal, Hong Kong Stock Exchange | Author(s): Winnie Liu
Asia-focused alternative investment fund manager PAG will raise approximately HKD1.7 billion (approximately US$219 million) through the sale of 130.7 million shares in China-based financial services conglomerate Haitong Securities. PAG acquired 219.7 million shares in Haitong for US$300 million in the company’s April 2012 IPO and sold 89 million shares for HKD1.16 billion (approximately US$150 million) in February 2013. The latest transaction represents a full exit for PAG.