May 3, 2018 / 3:13 AM / 21 days ago

UBS applies to increase stake in China joint venture to 51 pct

BEIJING, May 3 (Reuters) - UBS Group said on Thursday its China joint venture, UBS Securities Co, has submitted an application to China’s stock market regulator seeking approval for UBS to raise its stake in the JV to 51 percent.

The China Securities Regulatory Commission (CSRC) is currently reviewing the application, a UBS spokeswoman said in an emailed statement. (Reporting by Engen Tham and Shu Zhang; Editing by Stephen Coates)

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