Hedge fund Tiger Asia to return investor money: report
HONG KONG |
HONG KONG (Reuters) - New York-based hedge fund Tiger Asia Management LLC will return outside capital to investors by the end of the month amid a probe by Hong Kong regulators, Bloomberg News reported on Tuesday, citing a letter to investors.
Hong Kong's Securities and Futures Commission alleges that Tiger Asia was given advance notice by third parties of forthcoming share placements by China Construction Bank Corp (0939.HK) (601939.SS) and Bank of China Ltd (3988.HK) (601988.SS) and shorted shares in the stocks ahead of the placements being publicly announced.
Tiger Asia, which has no presence in Hong Kong, could not be reached for comment.
(Reporting by Nishant Kumar; Editing by Chris Gallagher)
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