OCBC acquires additional 18.51% stake in China fund management firm for $12.6 mil

SINGAPORE (Jan 17): Lion Global Investors, a subsidiary of Oversea-Chinese Banking Corporation (OCBC), has raised its interest in China’s Maxwealth Fund Management Company (FMC) to 28.51% from 10% previously by acquiring 37 million shares for RMB61.45 million ($12.6 million).

With the latest transaction, FMC has become an associated company of OCBC.

The remaining 71.49% interest in FMC is held by Bank of Ningbo, which is also an associated company of OCBC.

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