China's CITIC Securities says plans up to 1.5b new H-share issue
[SHANGHAI] 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.
CITIC Securities did not say how much money it aims to raise. Its H-shares closed at HK$27.75 on Friday, and based on that price, it could raise as much as HK41.6 billion (US$5.36 billion), but Chinese companies typically give some discount in pricing new share issues.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Genting Singapore propels convincing Singapore market rebound; STI up 1.1%
Asia: Markets rise as traders consider US rate outlook
China reiterates need for steady yuan amid fragile confidence
Singapore shares climb at Thursday’s open; STI up 0.3%
Stocks to watch: CDL, DFI Retail Group, Cordlife, First Resources
US: Wall Street slips as dour earnings, chip stocks weigh