Value Partners raises equity, flags China expansion

The Hong Kong fund manager raises $103 million a day after Philippine-based SM Prime taps the equity markets for $150 million in its first share sale since going public in 1994.

Hong Kong-based fund manager Value Partners surprised the market with a top-up placement yesterday, which saw it raise HK$795 million $103 million. The firm, which focuses on investments in Greater China and has a reputation for being able to spot good small- and mid-cap companies that have been overlooked by the market and turn them into highly profitable investments, said it will use the money for business expansion in China.

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