According to IFR, a Thomson Reuters publication, UBS sold 400 million shares in China Cinda at HK$4.75 each, putting the total deal at HK$1.9bn ($245m).
China Cinda went public in Hong Kong in late 2013 and has registered 29% increase in shares this April.
In a separate announcement, China Cinda Asset Management has appointed six banks as arrangers and dealers for a program under which it will issue a series of up to $3bn in global medium term notes to investors.
The company hired BOC International, BofA Merrill Lynch, Credit Suisse, Cinda International Capital, CCB International and CITIC Securities International as arrangers.
UBS, Deutsche Bank, Wing Lung Bank, ABC International, ICBC Asia, Morgan Stanley, Bank of China Hong Kong, Haitong International, DBS Bank, Standard Chartered and China Merchants will act as dealers of the programme.
China Cinda plans to use the net proceeds from the offering of each series of notes for working capital, investment as well as other general corporate purposes.
According to the company, the notes will be issued in series with different issue dates and terms.
Subject to compliance with all relevant laws, regulations and directives, they may be denominated in any currency and no public offering of the notes would be issued under the programme in Hong Kong, the US or any other jurisdictions.
Image: UBS Investment Bank’s New York offices at 299 Park Avenue. Photo: courtesy of MonteCarloGenerator
