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BIZCHINA / Biz Media Digest |
Finance: China Finance Online completes US$3m acquisition(AP)
Updated: 2007-11-29 14:09 China Finance Online Co Ltd said Wednesday it has completed its US$3 million acquisition of an 85 percent stake in Hong Kong securities brokerage firm Daily Growth Investment Co Ltd. Shares of China Finance Online, an online financial data provider, spiked US$2.46, or 14.5 percent, to US$19.45 in morning trading. The stock has traded between US$3.95 and US$47.68 during the past 52 weeks. Under the acquisition agreement, which was first announced on September 14, China Finance Online has the right to acquire the remaining 15 percent equity interest within five years. China Finance Online's acquisition of the stake closed on Friday. |
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