Value Partners Jumps as GF Securities Plans to Buy 20% Stake

Value Partners Group Ltd.rose as much as 15% in Hong Kong trading as GF Securities Co. is planning on buying a 20% stake in the asset manager as part of a push by the mainland Chinese brokerage to expand overseas.

The shares rose HK$0.33 to HK$2.55 as of 9:20 a.m. in Hong Kong.

The Guangzhou-based brokerage is nearing an agreement to buy a stake from Cheah Cheng Hye and V-Nee Yeh, the founders of Value Partners, for about HK$1.1 billion ($141 million), a person familiar with the matter said late Monday, asking not to be identified. The deal is ...