HONG KONG: The Hong Kong business of Chinese brokerage firm GF Securities has reached an agreement with asset manager Value Partners to acquire a 20.2 percent stake in the company from its founding shareholders.
Hong Kong-listed Value Partners said in a stock exchange filing on Thursday that the purchase of 369 million shares at HK$3 per share would total HK$1.17 billion ($141 million).
GF Holdings (Hong Kong) acquired a 12.3% stake from Value Partner’s largest shareholder, Cheah Cheng Hye, and further from Yeh V-Nee, who co-founded a China-focused asset management company in 1993. Acquire 7.9% stake.
Reuters reported on Monday that a deal was near.
Value Partners said it is considering declaring a special cash dividend of no more than HK$0.50 per share before closing the transaction.
(1 dollar = 7.8489 Hong Kong dollar)
https://www.channelnewsasia.com/business/chinese-brokerage-gf-buys-20-stake-value-partners-140-million-deal-3531046 Chinese brokerage GF buys 20% stake in Value Partners in $140 million deal