Chinese hypermarket operator Sun Art Retail Group Ltd., which will launch book building for institutional investors Tuesday, has locked in cornerstone investors including a sovereign wealth fund for its around US$1 billion Hong Kong initial public offering, two people familiar with the situation said Monday.
The cornerstone investments account for around 40% of the offer, the people said, adding the company plans to sell 1.14 billion shares. They declined to provide the indicative price range or other details of the deal...............................................Full Article: Source
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