Clearwater Partially Exits Oricon Enterprises (Asia)

Source: Bombay Stock Exchange, Asian Venture Capital Journal | Author(s): Andrew Woodman

Clearwater Capital, an investment firm focused on credit and special situations in Asia, has partially exited India-based Oricon Enterprises by selling 850,000 shares on 14 January and 4.5 million shares on 29 January through open market transactions on the Bombay Stock Exchange. Clearwater returned INR40.4 million (approximately US$650,000) and INR223 million (approximately US$3.6 million), respectively, in the two transactions. Oricon's main business lines are packaging, real estate and petrochemicals. Clearwater originally invested in Oricon in 2007 and continues to hold a 5.9 percent stake in the business.