Breaking: KVB Kunlun Bought by Chinese Investment Bank, CITIC Securities
- Shares of the company have been suspended pending the full announcement of the terms of the deal with CITIC, after rampant speculation over the past few months has already caused a major rally after the announcement.
According to a public announcement made by Hong Kong listed brokerage, KVB Kunlun Financial Group Ltd (HKG:8077), the company's controlling share holder has entered into an agreement with Chinese investment bank, CITIC Securities Company Limited (HKG:6030).
The controlling stake represents 60% of the company's shares as of the 30th of January, 2015. Pending due diligence, the takeover deal should proceed with an unconditional offer for the remaining capital of KVB Kunlun Financial Group Ltd (HKG:8077).
The company has recently reported a significant increase in revenues in the aftermath of the most volatile quarter on the foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term markets for the past couple of years. Shares of KVB Kunlun Financial Group Ltd (HKG:8077) were suspended from trading on the Hong Kong Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term pending full details.
According to the disclosed document distributed by the firm, the full announcement will be published as soon as possible.
The deal puts an end to rampant speculation about faith in the Hong Kong brokerage. Since November 2014, the dynamics of KVB Kunlun's shares has changed after rampant speculation about a take over deal sent them higher.
According to a public announcement made by Hong Kong listed brokerage, KVB Kunlun Financial Group Ltd (HKG:8077), the company's controlling share holder has entered into an agreement with Chinese investment bank, CITIC Securities Company Limited (HKG:6030).
The controlling stake represents 60% of the company's shares as of the 30th of January, 2015. Pending due diligence, the takeover deal should proceed with an unconditional offer for the remaining capital of KVB Kunlun Financial Group Ltd (HKG:8077).
The company has recently reported a significant increase in revenues in the aftermath of the most volatile quarter on the foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term markets for the past couple of years. Shares of KVB Kunlun Financial Group Ltd (HKG:8077) were suspended from trading on the Hong Kong Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term pending full details.
According to the disclosed document distributed by the firm, the full announcement will be published as soon as possible.
The deal puts an end to rampant speculation about faith in the Hong Kong brokerage. Since November 2014, the dynamics of KVB Kunlun's shares has changed after rampant speculation about a take over deal sent them higher.