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Hong Kong bourse to take minority stake in Beijing data technology company

Hong Kong Exchanges & Clearing Ltd. on Sept. 4 said it signed a letter of intent to acquire a minority stake in a Beijing-based data technology company Huakong TsingJiao Information Science (Beijing) Ltd. It did not disclose the stake size or financial details.

The transaction is part of the bourse's focus on developing its data and technology services. Huakong TsingJiao specializes in the research and development of multi-party computation technologies, which allow collaborative data analysis without revealing private data during the process.

The deal is expected to be completed in the fourth quarter, subject to the signing of binding agreements.