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Stake raised
Source: Bloomberg News |
July 29, 2011, Friday
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Print Edition
Print Edition
NEW Zealand-born billionaire Richard Chandler has raised his stake in Sino-Forest Corp, the Chinese tree-farm operator targeted by short seller Carson Block, to become the company's largest shareholder.
Chandler's Mandolin Fund Pte acquired 5.33 million shares of Sino-Forest on Tuesday, boosting its holding to 36.8 million shares, or 15 percent, Chandler said on Wednesday in a statement. Mandolin paid an average of about C$7.36 (US$7.75) a share on the Toronto Stock Exchange.
Chandler's Mandolin Fund Pte acquired 5.33 million shares of Sino-Forest on Tuesday, boosting its holding to 36.8 million shares, or 15 percent, Chandler said on Wednesday in a statement. Mandolin paid an average of about C$7.36 (US$7.75) a share on the Toronto Stock Exchange.
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