Hony Exits Hong Kong-listed Chaowei Power (Asia)
Source: AVCJ | Author: Alvina Yuen
Chinese private equity firm Hony Capital has fully exited its holding in Chinese lead-acid battery manufacturer Chaowei Power. Hony sold 150 million shares (representing 14.92 percent of Chaowei’s total equity) on the Hong Kong Stock Exchange for HKD600 million (approximately US$77.4 million). Hony originally acquired a 20.36 percent stake in Chaowei for US$41.06 million in March 2010 through its US$1.4 billion Hony Capital Fund 2008.