Yue Xiu nears deal to buy Chong Hing Bank in HK

Yue Xiu Group, a trading arm of the Guangzhou city government, is nearing an agreement to acquire Hong Kong lender Chong Hing Bank Ltd, said three people with knowledge of the matter.迷你倉 An announcement may come as early as this week, said the people, who asked to remain anonymous because the discussions are confidential. Chong Hing jumped 7 percent to a record close at the end of trading in Hong Kon文件倉 on Wednesday, giving it a market value of HK$15.1 billion ($2.1 billion). The first acquisition of a Hong Kong lender since 2009 would give Yue Xiu a total of 53 branches, including one each in Macao and mainland China. Chong Hing, which last year named Lau Wai-man as its first chief executive officer from outside the founding Liu family, said in August it had been approached by prospective bidders.存倉