Carlyle plans partial exit from Kaisa – report
The Carlyle Group is reportedly selling part of its holding in Hong Kong-listed Chinese real estate developer Kaisa Group for up to $67 million.
According to Reuters, the private equity firm is placing 216 million shares at a price of HK$2.35-2.45, which represents a discount of up to 9% on the previous closing price.
Carlyle was part of a consortium that bought a 12% stake in Kaisa for $300 million in 2007. Carlyle and Temasek Holdings each took a 5% holding, while smaller stakes went to Forum Partners Investment Management, PMA Capital Management and DLJ Real Estate Capital Partners.
One third of the acquired shares were sold by Kaisa's founders and majority shareholders, the Kwok family.
The company listed in late 2009, raising $445 million against a reported target of $650 million, and Temasek exited its entire 8% holding for around $154 million in May 2011.
More on Real estate
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.