HK-listed Value Partners jumps on report China's GF in talks to buy stake

Value Partners

30/05/2023 05:05

** Shares of asset manager Value Partners  0806.HK  jump as
much as 20.3% to HK$2.67, highest since May 9, and on track for
the second session of gain
    ** Stock trims gain later to HK$2.25, still up 1.4%
    ** Chinese investment bank GF Securities  1776.HK  is in
final talks to acquire a 20% stake in Value Partners, sources
familiar with the matter said
    ** GF Holdings, the international arm of Hong Kong and
Shenzhen-listed GF Securities  000776.SZ , is set to pay HK$1.1
billion ($140 million) for the stake, according to a person
familiar with the matter and a document reviewed by Reuters
    ** Value Partners said in an exchange filing later that a
co-chairman has informed the company that founding shareholders
are in discussions with a potential buyer for less than 30% of
its shares
    ** GF Securities did not respond to Reuters' requests for
comment
    ** Hong Kong shares of GF Securities down 1.1% while
Shenzhen stock falls 1.5%   
    ** Blue-chip CSI 300 Index  .CSI300  slips 0.8% and Shanghai
Composite Index  .SSEC  declines 0.7%
    ** Hang Seng Composite Index on financials stocks  .HSCIF 
and Hang Seng Index  .HSI  both dip 0.9%
    ** As of last close, Value Partner stock down 22.9% this
year
    

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