DOW JONES NEWS WIRES
By Lorraine Luk and Kate O’Keeffe
HONG KONG (Dow Jones)–Two SJM Holdings Ltd. (0880.HK) shareholders are selling up to US$106 million worth of shares in the company, according to a term sheet seen by Dow Jones Newswires on Tuesday.
Chief Executive Ambrose So and Executive Director Ng Chi Sing are selling 67 million shares in a price range of HK$11.75-HK$12.25 each, the term sheet said. So held 3.11% of the company’s shares before to the sale and Ng held 2.45%.
The low end of the range represents a discount of 6.15% to the company’s Tuesday morning session closing price of HK$12.52, the term sheet said.
Deutsche Bank AG is the deal’s sole bookrunner, according to the term sheet.
