USEUROPEAFRICAASIA 中文双语Français
Business
Home / Business / Companies

Citic set to buy 10% stake in asset firm

China Daily | Updated: 2013-05-23 14:47

Citic Securities Co Ltd - China's biggest brokerage - is to regain a controlling stake in a top fund management company, according to a filing submitted by the company to the Shanghai Stock Exchange on Wednesday.

Citic Securities plans to spend up to 2 billion yuan ($325.97 million) to buy a 10 percent stake in China Asset Management Corp from State-owned Wuxi Guolian Development Group. The deal will give Citic Securities 59 percent of China AMC, the securities company said.

Profits of brokerages fall in April

CSRC intensifies monitoring efforts over IPOs

CITIC Securities net profit plummets 66% in 2012

CITIC Securities plans to issue debt instruments

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US