Funds News
- CITIC Securities to take over fund firms
Date: 26-Jun-2007 Sources: (Shenzhen Daily)
CITIC Securities Co., China's largest brokerage in terms of net profit, said yesterday it had received regulatory approval to take over two fund management companies.
The China Securities Regulatory Commission approved CITIC Securities to increase its stake in China Asset Management Co. to 60.7 percent from 40.7 percent, CITIC Securities said in a statement. It will buy the additional 20 percent stake in the fund company from Beijing Securities Co. CITIC Securities also received approval to buy another 51 percent of CITIC Fund Management Co., giving it full ownership of the fund company.
Sponsor Results:
