China Precious Metal Resources (01194) said it agreed to purchase the total registered capital of Shenzhen Munsun Asset Management Company Limited at Rmb24 million.
The target group is principally engaged in the provision of investment research and ancillary investment support services and investment management and consultancy services. The business of the target group is subject to a relatively lower degree of market volatility. In addition, China Precious Metal Resources is of the view that investment management business in the PRC has high growth potential, and it believes the acquisition would allow the Group to benefit from the growth opportunities in such business sector, which would help the Group to diversify its business risks.
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