UPDATE 1-Investors in Renhe sell $87 mln in shares
(Updates with pricing)
HONG KONG, April 3 (Reuters) - Investors in China's Renhe Commercial Holdings Co Ltd (1387.HK) sold $87 million worth of shares in the developer of underground shopping malls in a block trade, according to a person familiar with the deal.
The sellers -- Ever Union Capital Ltd, Bookman Properties Ltd and Rich Crown Investments Ltd -- sold 400 million shares at HK$1.70 each, the middle of a HK$1.68-HK$1.72 indicated range, in a deal handled by Morgan Stanley (MS.N).
The deal was priced during the midday break on Friday, and shares in Renhe skidded in the afternoon session, from HK$1.86 at midday to close at HK$1.65. The stock was down nearly 15 percent on the day.
Renhe went public in October in an IPO that raised $435 million.
(Reporting by Tong Munroe, Editing by Jacqueline Wong)
((tony.munroe@thomsonreuters.com; Reuters Messaging: tony.munroe.reuters.com@reuters.net; +852 2843 6358, Fax +852 2845 0636))
((If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com)) Keywords: RENHE/SHARES
(C) Reuters 2009. All rights reserved. Republication or redistribution ofReuters content, including by caching, framing or similar means, is expresslyprohibited without the prior written consent of Reuters. Reuters and the Reuterssphere logo are registered trademarks and trademarks of the Reuters group ofcompanies around the world.nHKG41949
