Hong Kong bank Stanhill Capital Partners has bought a controlling stake in Sovereign Gold, an investment company focusing on British sovereign gold coinage, as demand for gold remains strong.
The banking group didn’t reveal the value of the transaction.
Stanhill’s senior partner Ilyas Khan will serve as non-executive chairman of Sovereign Gold, which was established in 2011 and intends to list on the London Stock Exchange.
“Sovereign Gold ... is extremely well placed to benefit from the increasing global appeal of physical gold investment,” the Hong Kong bank said in a statement.
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