FIL Limited (Fidelity) and Value Partners have both recently increased their stakes in the HK-listed TK Group Holdings (TK Group).

According to a filing submitted to the Hong Kong Stock Exchange on June 23rd, 2017, Fidelity bought 23,054,000 shares off the exchange at an average price of HKD 2.95 per share on June 20th (total consideration was ~US$8.7m). Following the purchase, their stake in TK Group increased from 2.37% to 5.16% of the company’s shares outstanding.

On the same date, Value Partners bought 9,218,000 shares off the exchange at an average price of HKD 2.95 per share (total consideration was ~US$3.5m). Following the purchase, their stake in TK Group increased from 6.67% to 7.79% of the company’s shares outstanding.

TK Group is a manufacturer of moulds and plastic components. They serve a diversified customer base across a wide range of industries, including household electrical appliances, automobiles, mobile phones and wearable devices. The company was founded in 1983 and currently has four production bases (three in China, one in Germany).