Others News
- Hong Yuan allowed to underwrite IPOs
Date: 15-Mar-2007 Sources: (Shenzhen Daily)
HONG Yuan Securities Co., the mainland's first publicly traded brokerage, has been approved to arrange initial public offerings (IPOs) in the country and manage assets, joining larger rivals in expanding its business.
Hong Yuan will be allowed to underwrite the sales of yuan-denominated A shares and manage assets for investors, according to the Securities Association of China's Web site.
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