HSBC to Buy Additional 31% of China Fund Management Joint Venture $6.3 Billion HSBC Jintrust Fund Management from Shanxi Trust for $137 Million, HSBC Currently Owns 49% & Will Own 80% after Transaction Subject to Regulatory Approval
14th June 2024 | Hong Kong
HSBC is buying additional 31% of China fund management joint venture HSBC Jintrust Fund Management ($6.3 billion AUM, Assets under Management) from Shanxi Trust for $137 million (CNY 1 billion). HSBC currently owns 49% and will own 80% of HSBC Jintrust after the transaction, subject to regulatory approval. In 2023 July, HSBC was reported to be buying shares of China fund management joint venture HSBC Jintrust Fund Management ($7.7 billion AUM, Assets under Management) from Shanxi Trust, with the $138 million (CNY 1 billion) deal representing 31% of shareholding currently undergoing a public auction that has began on 29th June 2023. HSBC has the first right to the auction purchase.
“ HSBC to Buy Additional 31% of China Fund Management Joint Venture $6.3 Billion HSBC Jintrust Fund Management from Shanxi Trust for $137 Million, HSBC Currently Owns 49% & Will Own 80% after Transaction Subject to Regulatory Approval “
HSBC to Buy Remaining 51% of China Fund Management Joint Venture $7.7 Billion HSBC Jintrust Fund Management from Shanxi Trust, $138 Million Deal Subject to Public Auction Beginning 29th June 2023
7th July 2023 – HSBC is buying the remaining 51% of China fund management joint venture HSBC Jintrust Fund Management ($7.7 billion AUM, Assets under Management) from Shanxi Trust, with the $138 million (CNY 1 billion) deal representing 31% of shareholding currently undergoing a public auction that has began on 29th June 2023. HSBC has the first right to the auction purchase.
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