Puhui Wealth Investment Management acquires Granville Financial Services

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China's Puhui Wealth Investment Management Co. Ltd. has acquired Granville Financial Services Co. Ltd. for HK$29.4 million.

Puhui Wealth Investment purchased 13 million shares of Granville Financial Services, according to a Dec. 9 release.

Granville Financial Services is a registered exchange participant of the Hong Kong stock exchange.

The acquisition is consistent with the wealth manager's strategy of expanding its wealth and asset management services in the city.