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UBS a winner in Haitong's roller-coaster ride

Zurich-based bank benefits as arranger for sale transactions involving shares in the Chinese brokerage

BOOM AND BUST: Shares in Haitong Securities surged as much as 33 per cent after a US$4.2 billion share sale by the Chinese brokerage before plummeting amid the market rout. This prompted a share buyback.

Hong Kong

THE roller-coaster ride in Haitong Securities Co shares this year has been good to UBS Group AG.

In December, as the Chinese brokerage was seeking money to finance growing businesses such as margin trading amid China's stocks rally, UBS was among banks picked to arrange a