Citic set to buy 10% stake in asset firm
Updated: 2013-05-23 14:47
(China Daily)
|
|||||||||
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
- Michelle lays roses at site along Berlin Wall
- Historic space lecture in Tiangong-1 commences
- 'Sopranos' Star James Gandolfini dead at 51
- UN: Number of refugees hits 18-year high
- Slide: Jet exercises from aircraft carrier
- Talks establish fishery hotline
- Foreign buyers eye Chinese drones
- UN chief hails China's peacekeepers
Most Viewed
Editor's Picks
Pumping up power of consumption |
From China with love and care |
From the classroom to the boardroom |
Schools open overseas campus |
Domestic power of new energy |
Clearing the air |
Today's Top News
Shenzhou X astronaut gives lecture today
US told to reassess duties on Chinese paper
Chinese seek greater share of satellite market
Russia rejects Obama's nuke cut proposal
US immigration bill sees Senate breakthrough
Brazilian cities revoke fare hikes
Moody's warns on China's local govt debt
Air quality in major cities drops in May
US Weekly
Geared to go |
The place to be |