Hong Kong-based hedge fund Infini Capital Management has completed the purchase of additional shares in China Ruyi Holdings, narrowly avoiding a sizeable financial penalty linked to a delayed private placement, according to a report by Bloomberg.
Infini bought 400 million shares in the Tencent-backed streaming media group on Thursday, meeting a previously agreed deadline and sidestepping potential liquidated damages of HKD320m, according to a filing with the Hong Kong stock exchange. The shares...
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