Market Chatter: HSBC To Boost Stake in Fund JV with Shanxi Trust

MT Newswires Live06-13

HSBC (HKG:0005) will boost its stake in the HSBC Jintrust Fund Management joint venture with investment bank Shanxi Trust for about 1 billion yuan, Bloomberg News reported Wednesday, citing people familiar with the matter.

The UK-based bank already owns 49% of the venture, the report said.

Shanxi Trust indicated in 2023 that it plans to sell a 31% stake for 1 billion yuan, with HSBC having priority for the purchase, the report said.

HSBC Jintrust Fund Management oversees 46.3 billion yuan in funds.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price (HKD): $67.90, Change: $-0.25, Percent Change: -0.37%

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