CITIC Securities (6030)

[CityFarmer]

I started a new thread for the company. Brokerage is one of the promising sectors, amid the liberalization of China capital market. CITIC securities is the biggest stock brokerage in China...

UPDATE 1-China's CITIC Securities plans up to 1.5 bln new H-share issue

Dec 29 (Reuters) - Chinese biggest stock brokerage CITIC Securities said it plans a new public issue of up to 1.5 billion Hong Kong-listed H-shares to supplement capital to help expand businesses including margin trading in China's mainland.

In a statement issued late on Sunday, the brokerage said the issue would be implemented within 12 months pending on shareholder and regulatory approval.
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http://www.reuters.com/article/2014/12/2...JX20141228

[opmi]

how about setting up a PRC brokerages thread? the news about brokerages can consolidate in one thread. if not, bits and pieces all over the place.

[CityFarmer]

how about setting up a PRC brokerages thread? the news about brokerages can consolidate in one thread. if not, bits and pieces all over the place.

Since the forum is organized by company, I suggest to stick with the current structure, as most buddies are used to it already.

I suggest to put non-company related brokerage news here, since the company is the largest one. Other brokerage house news will be posted to their respective threads.

Any other suggestion?

Regards
Moderator

[CityFarmer]

Brokerage biz in China, is booming along with the stock markets, and attracted the biggest boys in the market...

(not vested)

Citic Securities to raise up to US$3.5 billion selling H shares

NEW YORK (June 16): Citic Securities Co., China’s biggest brokerage by market value, will raise as much as HK$27.1 billion ($4.7 billion) selling stock to 10 investors, including the Kuwait, Singapore and Malaysia sovereign wealth funds.

The company will sell as many as 1.1 billion new Hong Kong- listed shares at HK$24.60 each, according to a statement to the Hong Kong stock exchange on Monday. That’s a 19% discount to Monday’s closing price. Citic shares have risen 3.6% this year.

China’s brokers have been selling shares as the nation’s stock market booms and so boosts their earnings. Shenwan Hongyuan Group Co. said on June 12 that it plans to raise as much as US$2.9 billion in a private placement. Guotai Junan Securities Co. is set to price a share sale this week that may be China’s biggest since 2010.

The Shanghai Composite Index has surged 145% in the past year on a record jump in margin debt and bets the government will lower borrowing costs. It’s valued at 19 times 12-month projected earnings, compared with the five-year average of 10.3, according to weekly data compiled by Bloomberg.

The group of investors buying Citic shares include a China Cinda Asset Management Co.-backed fund, the Kuwait Investment Authority, Singapore’s GIC and its Temasek Holdings, and a unit of Malaysia’s Khazanah Nasional Bhd.

Additional investors include Yunfeng Financial Holdings, backed by Alibaba Group Holding’s billionaire founder Jack Ma, and funds run by Fidelity Worldwide Investment, Och- Ziff Capital Management Group LLC and Harvest Global Investments. One buyer wasn’t identified by name.
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http://www.theedgemarkets.com/sg/article...g-h-shares