A Hong Kong-based investment firm is reaping rapid gains by snapping up Chinese equities through high-profile share placements amid a surging stock market.
Infini Capital, a multi-strategy investment firm founded by Tony Chin, booked an estimated HK$230 million ($30 million) in gains just a day after subscribing to a private placement of shares in software provider Weimob on Wednesday. Earlier this week, its investment in GCL Technology Holdings Ltd. delivered almost HK$1 billion in three days as the stock rose 8% over the period.
Infini has been the sole buyer of at least five such deals in the past ...
