(Yicai Global) Sept. 20 -- Greenland Financial Holdings Group's new securities arm has been given permission by the Hong Kong Securities & Futures Commission to begin operations as Greenland (Asia) Securities Ltd.
Last year, Greenland Financial, the investment arm of property developer Greenland Holdings Corporation Ltd. [SHA: 600606), took-over Hong Kong-based EGrowth Asset Management Company Ltd. It was granted permission last month to begin operations as Greenland (Asia) Securities.
Greenland (Asia) Securities will serve as an international asset investment platform for the Greenland Group. It will engage in global investment and management of overseas real estate and equity funds and plans to manage USD10 billion of assets within three years.
The Hong Kong-based company has set up a fund of between USD3 billion and USD5 billion to manage global equity investments with a focus on the healthcare, lifestyle and leisure industries. It will also manage around USD4 billion to USD6 billion of real estate investment trusts that include real estate for logistics companies, hotels and overseas developments.