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China's CMBC buys into HK securities firm Quam

China's biggest private lender to pay up to HK$7.5b for controlling stake

Hong Kong

CHINA Minsheng Banking Corp (CMBC), the country's biggest private lender, said late on Tuesday it's in talks to invest as much as US$970 million for a controlling stake in Hong Kong-based securities firm Quam Ltd.

Quam's shares soared as much as 105 per cent on Wednesday