CSC Holdings' (HKG:0235) subsidiary CS Capital Investment agreed to acquire 26.80% of all the issued and outstanding capital stock of Citystate Savings Bank for HK$102.1 million from several sellers, a Monday filing with the Hong Kong Exchange said.
The upper cap of the purchase price is set at a little over HK$104 million.
The company intends to take its first step into the financial business segment with this acquisition.
The company's shares were down over 3% on Tuesday's close.
Price (HKD): $0.03, Change: $-0.00100, Percent Change: -3.33%
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