OUE: Controlling shareholder Lippo Group plans to sell up to 120.5m (83.5m plus 37m upsize option) shares at $2.80/share via a private placement. Sale price is at ~10% discount to last close at $3.05. This follows an earlier sale in Jun 10 when it place out 18m shares at a pre 5-to-1 stock split price of $11.50 (adjusted $2.30 post split). Previously, the shares were placed out at a 28% discount & enjoyed a price run-up subsequently.
Book-runners for the latest Lippo share sale are reportedly CIMB, Credit Suisse, BOA_ML, Morgan Stanley & Stanchart. Stock appears well supported at 50-day MA at $2.82.
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