Planetree (0613) sells 60% interest in investment portfolio to Alice Yu Man Fung for HK$240m
Company announcement, 11-Dec-2020
The portfolio held by Green River Associates Ltd (Marshall Islands) comprises 5 unnamed HK-listed stocks. The buyer and Karen Lo Ki Yan, controlling shareholder of Planetree, "have known each other for many years". Planetree will continue to manage the portfolio. Reducing GRA to a 40% associate means that its future disposals and acquisitions of stocks will be outside the scope of the Listing Rules for Planetree.