3i exits PCD Stores through Hong Kong IPO
Four years after an original investment of $31 million, 3i Group has exited its stake in PCD Stores, a luxury department store chain in China, through an IPO on the Hong Kong Stock Exchange.
The listing raised $377 million through the sale of 1.5 billion shares, giving 3i an estimated 2.2x return on investment, according to a source. This is the second IPO of a Chinese consumer company for...
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