HK Stock Market Move | CK Hutchison Holdings (01468) surged more than 6% in early trading, planning to issue new shares to acquire 8.33% equity of a Swiss investment company, involving nearly HK$40 million.

Jing Finance International (01468) opened more than 6% higher in the morning, and as of the time of publication, it was up 6.59% at HK$0.485, with a turnover of HK$1.6442 million. On the news front, Jing Finance International announced its intention to acquire 8.33% equity of Swiss listed investment company Youngtimers AG from independent third party IndexAtlas AG for CHF 4.32 million (approximately HK$39.67 million), to be paid through the issuance of 93.7868 million shares at a price of HK$0.423, a discount of 7.03% from the previous trading day (24th). After the completion of the transaction, the seller will hold 7.86% of the company's share capital. According to the announcement, the target company specializes in providing financial and investment services, including private equity investments and small to medium-sized market value listed stocks. The directors have carefully studied the business plan published by the target company, which outlines the expansion of its asset management business. According to a public announcement made by the target company on July 15th, the board of directors of the target company has approved the acquisition of all the shares of C Capital, with Luxembourg as its domicile. The announcement also disclosed that C Capital was co-founded by a prominent entrepreneur in Hong Kong, investing in high-growth Asian companies with great potential on a global scale.