HK-listed China Literature falls, Carlyle sells $201 mln stake

China Literature

14/01/2020 02:25

** Shares of online literary reading and writing platform
China Literature Ltd  0772.HK  fall as much as 8.5% to HK$37.80
after four straight sessions of gains
    ** China Literature is the second most actively traded stock
in early trade 
    ** Stock on track for its biggest daily pct drop since Aug.
13, 2019
    ** Carlyle Group  CG.O  has raised HK$1.56 bln ($201 mln)
through the sale of its stake in China Literature - IFR
 urn:newsml:reuters.com:*:nL4N29J00R
    ** The deal, comprising about 41 mln shares or 3.97% of the
company, was priced at HK$38 per share, representing an 8%
discount to Monday's close
    ** Shanghai-based China Literature has outperformed the Hang
Seng Commerce & Industry Index sector  .HSNC  by 22.3 percentage
points in the past month
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
gains 0.2%, and the Hang Seng sub-index tracking information
technology firms  .HSCIIT  rises 0.6%
    ** The Hang Seng China enterprises index  .HSCE  gains
0.04%, and the benchmark index  .HSI  edges down 0.02%
($1 = 7.7737 Hong Kong dollars)

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)