Global Chinese Business Club (HKG:1757) said it agreed to acquire a 33% stake in a securities firm operating in Hong Kong, according to a Hong Kong bourse filing Thursday.
Shares of the foundation works firm fell nearly 1% in late morning trade Friday.
The acquisition is expected to help diversify the company's income stream.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.