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Korea M&A Corporation
China Finance Online Closes Acquisition 본문
China Finance Online Co. Ltd. said Wednesday it has completed its $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 $2.46, or 14.5 percent, to $19.45 in morning trading. The stock has traded between $3.95 and $47.68 during the past 52 weeks.
Under the acquisition agreement, which was first announced on Sept. 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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