PAG sells $150 million of shares in Haitong Securities

The sale comes after the stock has gained about 28% since last year’s IPO in which PAG participated as a cornerstone investor.

Private equity firm PAG last night raised HK$1.16 billion ($150 million) by selling about 40% of its stake in Haitong Securities, making it the first of the two major cornerstone investors in Haitong’s H-share IPO to reduce its stake.

¬ Haymarket Media Limited. All rights reserved.

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