HONG KONG : HSBC's China partner has put a 31 per cent stake in a joint venture on the block which the European bank has a preemptive right to acquire, a disclosure from an online auction shows. The auction of a stake in HSBC Jintrust Fund Management comes after sources told Reuters in May that Europe's l
HONG KONG : HSBC's China partner has put a 31 per cent stake in a joint venture on the block which the European bank has a preemptive right to acquire, a disclosure from an online auction shows.
Chinese state-owned Shanxi Trust, which owns 51 per cent stake in the joint venture, is auctioning off the partial ownership with an asking price of 1 billion yuan , a webpage from China's National Public Resource Trading Platform shows. The auction started to receive bids on Thursday last week. China Fund News first reported the stake auction late on Monday.
"The Group is open to opportunities to expand its businesses at the right moment and that are aligned to its strategic growth plans," it added.
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