SINGAPORE (Dec 11): Pine Capital, the financial services group specialising in fund and asset management services, is acquiring a 51% stake in Hong Kong-based asset management firm for HK$2.55 million ($0.45 million) in shares.

Incorporated in Hong Kong in June 2010, Silver Tree Holdings is licensed to manage clients’ portfolio of securities or future contracts on a discretionary basis and manage multi-strategy portfolios. The target has an issued and paid-up share capital of $7.1 million consisting of 40.4 million shares.

Pine Capital says the acquisition proposed acquisition will broaden the group’s client base, procure new sources of revenue for the group and allow for the group to leverage on the target to break into the Hong Kong market.

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