Brandes Investment Partners (Brandes) recently acquired a notifiable interest in Hong Kong-listed PAX Global Technology Limited (PAX Global). Based on a filing submitted to the Hong Kong Stock Exchange on May 23rd, 2018, Brandes bought 921,000 shares on the exchange at an average price of HKD 3.47 per share on May 21st (the total consideration was ~US$407k). As a result, Brandes’ stake in PAX Global increased from 4.95% to 5.04% of the company’s shares outstanding.

PAX Global is a leading Asian electronic payment point-of-sales terminal solution provider. The company was founded in 2000 as a subsidiary of the Hi Sun Group, which is listed on the Hong Kong Stock Exchange with stock code 818. PAX Global was spun-off as a separate listed company in December 2010.

Brandes is an investment advisory firm that serves individuals, financial advisors, institutions, foundations and endowments. They invest globally using a bottom-up, value approach and manage a variety of equity and fixed-income strategies. Assets under management are ~US$30bn. The firm was founded in 1974 by Charles Brandes and is headquartered in San Diego, California.