Stocks News
- CITIC Securities says HK listing distant
Date: 30-Nov-2007 Sources: (Shenzhen Daily)
CITIC Securities, China's largest securities firm by market value, said Thursday it would not seek a Hong Kong listing for at least three months, clarifying comments in an earlier report in the Financial Times.
The paper, in a report Monday, quoted CITIC Securities chairman Wang Dongming as saying an offshore listing for CITIC, the brokerage arm of China's largest financial conglomerate China International Trust and Investment Corp., would help make it a truly global firm.
'Chairman Wang Dongming told the Financial Times that our company was studying future fundraising channels, including a possible fundraising in Hong Kong in future,'CITIC Securities said in a statement.
'But the chairman had also said there were still important issues to be considered and resolved before a Hong Kong fundraising, and he did not say our company planned to list in Hong Kong in the near term,'the firm said in the statement.
CITIC Securities, which completed its pioneering joint venture agreement with U.S. investment bank Bear Stearns Co. last month, added that it would not consider a Hong Kong listing for at least three months.
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