SINGAPORE (Feb 3): New Silkroutes Group is acquiring an 80% stake in New York-based CG Capital Markets Holdings (CGCMH) -- including its subsidiary broker-dealer CG Capital Markets (CGCM) -- for US$14.4 million ($20.4 million) to expand its investment business and diversify its business lines.

Founded in 2015, CGCM specialises in fixed-income market making and provides capital raising and advisory services to companies and projects in sectors including technology, life sciences, natural resources, real estate and energy.

In addition to New York, CGCM maintains trading operations in New Jersey and Florida. It also has representative offices in Boston, Philadelphia, Charlotte and Denver, and plans to open a San Francisco office pending regulatory approvals.

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