Feb. 7, 2007 (China Knowledge) – Tai Fook Securities Group <665> has submitted an application to acquire a 49% stake in a Beijing-based futures company in China to the China Securities Regulatory Commission, chief executive Peter Wong said.

The commodity futures trader, which was not named, is revealed to have branches in Shanghai, Dalian and Zhenzhou.

Tai Fook has been eyeing the Chinese commodity futures market for a year and among its acquisition targets are commodity futures companies Baifu Futures and Shentong Futures Co.

It is speculated that Baifu, which is a commodity futures trader and has branches in Shanghai, Dalian and Zhenzhou, is most likely to be Tai Fook’s acquisition target.