DEALTALK-Hong Kong stock surge spurs block trade boom; China bank deals seen

April 21, 2015 2:23 AM

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HONG KONG, April 21 (Reuters) - A sharp rally in Hong Kong stocks has spawned 11 block trades worth $3.4 billion in April alone and bankers say a raft of similar deals is waiting in the wings, including Spanish lender BBVA's stake in China's CITIC Bank Corp.

In a welcome fee windfall for investment banks amid a lacklustre IPO market, demand for block share trades is so robust that fund managers who missed out on the recent surprise stock surge are taking the unusual step of actively seeking out deals.

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