Others News
- CITIC Securities raises US$3.31b
Date: 31-Aug-2007 Sources: (Shenzhen Daily)
CITIC Securities, China's biggest listed brokerage, said Thursday it has raised 25 billion yuan (US$3.31 billion) in a heavily oversubscribed new share offer to finance expansion.
The 333.73 million new shares, offered to both institutional and retail investors Monday, will be listed on the Shanghai bourse soon, but a final timetable has yet to be fixed, it said in a statement. The offer drew a total of 228 billion yuan in subscription funds. The company has said the new shares would represent about 10 percent of its expanded capital and were expected to be issued at 74.91 yuan each, against the stock's last closing price of 94.27 yuan Aug. 24.
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