China Finance Online acquires Hong Kong securities firm
China Finance Online Co., Limited, a leading Chinese online financial information, data, and analytics provider, announced that on November 23rd, 2007, it successfully completed the acquisition of 85% equity interest of Daily Growth Investment Company Limited, a licensed securities brokerage firm incorporated in Hong Kong with a history of over 35 years.
Under the definitive agreement, previously announced On September 14th, 2007, China Finance Online agreed to acquire 85% equity interest of Daily Growth Investment Company Limited for approximately $3 million and has the right to acquire the remaining 15% of equity of Daily Growth Investment within 5 years from the completion date.
— www.theasianbanker.com (November 29 2007)–