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FINWIRES

Veson's Controlling Shareholder Boosts Stake; Shares Jump 23%

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-- Veson (HKG:1399) said its controlling shareholder, Fang Jin, increased his stake in the company, according to a Tuesday Hong Kong bourse filing.

Shares of the firm were up nearly 23% in Wednesday afternoon trade.

Fang, through a wholly owned private company Right Grand Holdings, purchased 34.7 million shares on April 24 via on- and off-market transactions, representing about 3.18% of the issued share capital.

Following the purchase, Fang's interest rose to 587 million shares, or about 53.85%, from about 50.67% previously, the filing showed.

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