Warburg Pincus Exits Stake in Kasen International Holdings (Asia)

Source: Hong Kong Stock Exchange

Global private equity firm Warburg Pincus has exited an approximate 11.67 percent stake in China’s Kasen International Holdings through a strategic sale on the Hong Kong Stock Exchange to Hongkong Greatstar International. Warburg Pincus sold over 135.5 million shares at HKD1.10 per share, resulting in HKD149.3 million (approximately US$17.5 million) in proceeds. Kasen manufactures upholstered furniture, furniture leather and automotive leather in China.