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MUFG Is Said to Mull Sale of Stake in Hong Kong’s Dah Sing

Japan’s biggest lender has wanted to offload the holding for some time and conducted several reviews, said the person, asking not to be identified as the discussions are private. 

MUFG holds about 10% of Dah Sing, according to Bloomberg-compiled data, after paring back its stake in 2019. It said at the time that it will continue to review its existing investments, including the remaining shares in Dah Sing. 

Dah Sing closed 6% higher in Hong Kong trading on Tuesday. A block of 31.6 million shares traded at HK$24.25 Tuesday morning in Hong Kong, and a record 33.8 million shares changed hands, data complied by Bloomberg show. 

MUFG has in recent years aggressively expanded into Asia through a string of acquisitions, spending about $15 billion on stakes in lenders in Indonesia, Thailand, Vietnam and the Philippines. Last week, it said it would buy Nomura Holdings Inc.’s securities unit in Thailand for 5.5 billion baht ($154 million).