Almost 30 investors bought the shares from Baring at the top end of their pricing range, according to a report in Finance Asia.
Baring initially offered to sell just over half of its stake, or 5.8 million shares, but changed its mind and parted with the entire holding on the back of strong demand, the report said.
Baring bought a 25 per cent stake in Airtac in 2006 as part of a four-deal, $137m investment in China.
The investment was used to recapitalise the company after it acquired 27 distributors in China to become a fully-integrated manufacturing and distribution business.
Baring PE Asia closed its most recent fund on $2.46bn two years ago, which at the time made it the largest Asian private equity fund raised since the economic downturn.
The fund took less than five months to hit its hard cap and had more than $1bn of excess demand.
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