Hong Kong exchange operator HKEX has announced that it is revising the criteria for its designated securities eligible for short selling to reflect the development of Hong Kong's equity market. The revisions are the result of a periodic review under a framework introduced in 2012. Changes to criteria for designated securities eligible for short selling will…
Read moreHong Kong based retail forex broker KVB Kunlun Financial Group Ltd (HKG:8077) reported a very large rise in revenues and profits (and virtually every other measure) for the second quarter of 2015, confirming our earlier exclusive report that KVB would see very nice results in Q2. The raw numbers - Revenues at KVB rose to an…
Read moreKVB Kunlun Financial Group Ltd (HKG:8077), the Hong-Kong focused retail Forex broker, today announced the appointment of Octal Capital Limited as an independent financial adviser on its deal with CITIC Securities Company Limited (SHA:600030). Octal Capital Limited, which has licenses to carry out Type 1 (dealing in securities) and Type 6 (advising on corporate finance)…
Read moreInvestors seem to be reversing on their bet that CITIC Securities might make an enhanced offer to KVB's minority shareholders.
Read moreKVB shares restart trading Friday on the HKEx at a price more than double CITIC's existing HK$0.65 per share offer.
Read moreKVB last traded on January 29 at HK$1.41 per share, well above the HK$0.65 offer CITIC intends to make to public shareholders.
Read moreHong Kong based retail forex broker KVB Kunlun saw an absolutely wild week in trading of its shares on the Hong Kong Exchange (HKG:8077), as investors tried to figure out the eventual outcome of an announced takeover bid for KVB. KVB's shares moved at least 10% each and every trading day last week, in different…
Read moreBreaking Forex News... The next step in the KVB Kunlun sale saga has taken place, with the company disclosing some important - yet surprising - information. Specifically, KVB's major shareholder, Mr. Li Zhi Da, has agreed to tender most of his 75% stake in KVB to a still unnamed acquirer for HK$0.65 per share, valuing…
Read moreWe reported last week that Hong Kong based retail FX broker KVB Kunlun (HKG:8077) had issued a profit warning for Q1, blaming an expected loss on reduced market volatility, a rampup in marketing expenses during Q1, and expenses related to the grant of share options to senior KVB employees. KVB at the time didn't give any specific numbers as to the size…
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