HK-listed Value Partners jumps as China's GF Securities buys 20% stake

Value Partners

02/06/2023 03:06

** Shares of Hong Kong-listed asset manager Value Partners
 0806.HK  jump as much as 12.8% to HK$2.65, highest since May
30, and on track for a second session of gain
    ** Stock is the biggest pct gainer in the Hang Seng
Composite Index on financials stocks  .HSCIF 
    ** Chinese brokerage GF Securities'  1776.HK  Hong Kong
business has reached agreement with asset manager Value Partners
 0806.HK  to acquire a 20.2% stake in the firm from its founding
shareholders 
    ** The purchase of 369 million shares at HK$3 apiece totals
HK$1.107 bln ($141 mln) and Value Partners says it is
considering declaring a special cash dividend of no more than
HK$0.50 per share 
    ** Hong Kong shares of GF Securities rise 1.8% and
Shenzhen-listed stock  000776.SZ  climbs 0.7%
    ** Blue-chip CSI 300 Index  .CSI300  gains 0.8% and Shanghai
Composite Index  .SSEC  adds 0.6%
    ** Hang Seng Composite Index on financials stocks  .HSCIF 
rises 2.2% and Hang Seng Index  .HSI  jumps 2.9%
    ** As of last close, Value Partner stock down 18.4% this
year

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))