The share price of Hong Kong’s Bank of East Asia on Thursday rose sharply for the second day after Guoco Group stepped up its stakebuilding, triggering speculation that it would launch a takeover of the territory’s largest locally-owned bank. BEA shares rose as much as 9.5% to HK$36.50, having gained 15% on Wednesday in its biggest one-day jump in 11 years. They closed 2.1% higher, giving the bank a market cap of HK$62.9bn ($8.1bn).

This entry was posted by Gwen Robinson on Friday, November 13th, 2009 at 4:45 and is filed under Capital markets, M&A. Tagged with bank of east asia, Guoco. Edit this entry.