Date
20 July 2018

Goldman Sachs to sell Geely shares for up to HK$2.45 bln, paper

Goldman Sachs Group Inc. is raising up to HK$2.45 billion (US$315.97 million) by selling 580 million shares of Geely Automobile Holdings (00175.HK), Ming Pao Daily News reported Wednesday, citing a term sheet. Goldman is selling the shares at HK$4.10 to HK$4.23 apiece, a discount of 4.08 percent to 7.03 percent to Geely’s closing price of HK$4.41 on Tuesday. Geely recently beat market expectations by booking a first-half net profit of 1.4 billion yuan, up 37 percent year on year, the report said.

– Contact HKEJ at [email protected]

EL/AC/RA

 

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