Markets buoyed by placement from Pacific Basin

A 320.2 million share placement in Hong Kong listed Pacific Basin was priced yesterday (January 26) at HK$3.125, representing a tight 4% discount to a spot close of HK$3.35. This was also the tight end of a marketed range between 4% and 5% and aggressive in the context of both day's trading volume (74) and size of existing freefloat (34%).