Business & Finance
Citic Securities to seek $2bn HK offer approval on Aug 25: IFR
HONG KONG : Citic Securities Co Ltd, China 's largest publicly traded brokerage, will seek approval for a $2 billion st
HONG KONG: Citic Securities Co Ltd, China's largest publicly traded brokerage, will seek approval for a $2 billion stock offering in Hong Kong on Aug. 25, a week later than previously planned as it awaits a go-ahead from Chinese regulators to issue the shares, IFR reported on Tuesday.
Citic Securities could sell up to 40 percent of the shares in the offering to cornerstone investors in a bid to ensure its success, said IFR, a Thomson Reuters publication, citing three sources with direct knowledge of the matter.
Copyright Reuters, 2010
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