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SHK & Co. Completes Disposal of Brokerage Unit for HK$1.24 Billion

·3-min read


EQS-News / 01/06/2021 / 15:59 UTC+8

 

For immediate release: 01 June 2021, Hong Kong

 

 

SHK & Co. Completes Disposal of Brokerage Unit for HK$1.24 Billion

 


Sun Hung Kai & Co. Limited (SEHK: 86) ("SHK & Co." or the "Company"), a leading alternative investing firm headquartered in Hong Kong, announced today that it has sold the entirety of its remaining interest in Everbright Sun Hung Kai Company Limited ("EBSHKFGL") to Everbright Securities Company Limited ("ESCL", or "Everbright Securities") for a sum of HK$1,236,920,000. SHK & Co. held 90,365,142 Preference Shares in EBSHKCL which were redeemed through this sale; bringing to a final close the Company's involvement with EBSHKFGL. ESCL will officially cease using the Sun Hung Kai name within the next 12 months.

 

SHK & Co. is committed to continuing to build out its Investment Management and Funds Management divisions. In 2015, SHK & Co. entered the Investment Management space, growing its assets under management to over HK$14.6 billion.[1] The Investment Management division has consistently contributed net profits since its inception, and  has recorded over HK$4.5 billion pre-tax profit over the past five years at a compound annual growth rate of 71%. The Company's continued growth is also supported by its newly established Funds Management platform, Sun Hung Kai Capital Partners. Both Investment Management and Funds Management are expected to be significant drivers of future growth.

 

"I am pleased to announce that we have fully exited EBSHKCL (formerly known as Sun Hung Kai Financial) and I would like to thank Everbright for their support during the five-year transition period," said Seng Huang Lee, Group Executive Chairman of SHK & Co.

 

"After selling our legacy business, we have been encouraged by the healthy development of our new business lines and remain committed to our vision of growing our platform in the alternative investment sector," added Mr. Lee.

 

 

 

 

- End -

 

 

 

 

 

 

 

 

 

 

 

About Sun Hung Kai & Co.

 

Sun Hung Kai & Co. Limited (SEHK: 86) ("SHK & Co.", together with its subsidiaries, the "Group") is a leader in alternative investing headquartered in Hong Kong. Since its establishment in 1969, the Group has owned and operated market-leading platforms in Financial Services. The Group invests across public markets, alternatives and real assets and has an established track record of generating long-term risk adjusted returns for its shareholders. Most recently, it has extended its strategy to incubate, accelerate and support emerging asset managers in the Asian region. It is also the major shareholder of a leading Consumer Finance firm, United Asia Finance Limited. The Group currently holds about HK$44 billion in total assets as at 31 December 2020.

 

For more information about SHK & Co., please visit its corporate website www.shkco.com.

 

For enquiries, please contact Hill+Knowlton Strategies Asia:

 

Joanne Lam/ Geffron Au Yeung

Tel: (852) 2894 6211 / (852) 2894 6255

Email: SHKCo@hkstrategies.com

 

 

[1] As at December 31, 2020



File: SHK & Co. Completes Disposal of Brokerage Unit for HK$1.24 Billion

01/06/2021 Dissemination of a Marketing Press Release, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

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