Boston-based private equity firm Bain Capital has made a full exit from Hong Kong-listed Chinese electronics retailer GOME Electrical Appliances Holding Limited by selling all of its remaining stake for approximately HK$1.04 billion (US$130 million), according to media reports.
Bain Capital sold 922 million shares at HK$1.13 per share, the lower end of an indicative price range between HK$1.12 and HK$1.15 apiece, which represented a discount between 2.5% and 5.1% to company’s last closing price.
The full exit from a troubled and unprofitable investment means Bain Capital can now move on to invest its money elsewhere.
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