HONG KONG: Elliott Management Corp has raised its stake in Bank of East Asia Ltd (BEA) less than two weeks before the Hong Kong lender defends itself in court against a lawsuit brought by the US hedge fund.
Elliott bought 237,800 shares of BEA at an average price of HK$32.569 each, increasing its stake in BEA to 8%, according to a July 4 filing to the Hong Kong stock exchange.
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