Elliott Questions Bank Of East Asia’s Nearly $1 Billion Share Sale

HFA Padded
Mani
Published on
Updated on
Paul Singer

Paul Singer’s Elliott Management Corporation has launched a legal action against Hong Kong’s Bank of East Asia for its nearly $1 billion share sale to Japan’s Sumitomo Mitsui Banking Corporation last year. Bank of East Asia is one of the last remaining family-owned Hong Kong banks. Elliott seeks BEA’s internal papers According to court proceedings held Wednesday in Hong Kong, five funds linked to Elliott are seeking to compel Bank of East Asia’s directors to hand over internal papers covering their decision last September to sell 222 million new shares to Japanese megabank Sumitomo Mitsui Financial Group. Critics question the…

This content is exclusively for paying members of Hedge Fund Alpha

Log In

Insider Strategies and Letters to Shareholders from the Top Hedge Funds and Maximize Your Portfolio Growth with Hedge Fund Alpha

Don’t have an account?

Subscribe now and get 7 days free!

HFA Padded

Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports