www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Companies

Great Wisdom plans to buy Xiangcai Securities for $1.46b

By Wu Yiyao in Shanghai (China Daily) Updated: 2014-08-14 07:20

Great Wisdom plans to buy Xiangcai Securities for $1.46b

An outlet of Xiangcai Securities in Shanghai. Internet financial information and technology service provider Shanghai Great Wisdom plans to purchase 100 percent of the equity of Xiangcai Securities, a stock brokerage listed in China's over-the-counter market for growth enterprises. Provided to China Daily

Shanghai-listed Shanghai Great Wisdom Co Ltd, an Internet financial information and technology service provider, said it plans to purchase 100 percent of the equity of Xiangcai Securities Co Ltd, a stock brokerage listed in China's over-the-counter market for growth enterprises.

Market insiders said the 9-billion-yuan ($1.46 billion) deal, if completed, will be the first instance of an Internet company purchasing a brokerage, a milestone in China's Internet finance market.

It will be the largest deal to date between an A-share listed company and an enterprise listed in the OTC market for growth enterprises (the new third board), according to the China Securities Regulatory Commission.

"Market response to the intended deal is quite positive. It shows that integration between Internet information and technologies and the financial market is deep, wide, and fast," said Xie Hongda, Shanghai-based certified financial planner with Dongxin Consultancy.

Great Wisdom said purchasing Xiangcai Securities will help integrate resources and improve the profit model to gain a share of the expanding Internet finance market, estimated by China's central bank to reach 10 trillion yuan by the end of 2014.

Announcement of the potential deal pushed up prices of shareholders of Xiangcai Securities.

The share price of Xinhu Zhongbao Co Ltd, a shareholder of Xiangcai Securities, rose by the daily limit of 10 percent to 3.91 yuan on Wednesday.

Xinhu Zhongbao currently holds 48 percent of the shares of Xinhu Holdings, which is one of the major shareholders of Xiangcai Securities.

"The deal indicates that the integration of Internet technology and the brokerage business is faster than expected," said Shen Chunhui, manager of Hongta Stock Ltd.

Cooperation between Xiangcai Securities and Great Wisdom dates back to 2009 when the two jointly launched an online trading platform.

According to Great Wisdom's filing to the Shanghai Stock Exchange on Tuesday, its subsidiary Financial China Information & Technology plans to buy 112 million shares of Xiangcai Securities, and Great Wisdom plans to buy the other 96.5 percent, 3.085 billion shares via share issuance to other shareholders.

The deal will be completed via private placement of Great Wisdom shares and cash payment, the filing said.

"Great Wisdom plans to raise supporting capital to increase the capital stock of Xiangcai securities and replenish the broker's operating capital," the filing said.

The newly issued shares of Great Wisdom after the deal may be listed on the Shanghai Stock Exchange, if the application is approved, which will realize Xiangcai Securities' wish to join the main board.

Xiangcai is one of the oldest brokerages in China. In 2013, Xiangcai Securities' operating revenues reached 830.49 million yuan.

Shares of Great Wisdom have been suspended from trading as of July 21, according to the announcement.

Great Wisdom plans to buy Xiangcai Securities for $1.46b Great Wisdom plans to buy Xiangcai Securities for $1.46b
Investors hesitate before stock link
Top 10 underwriters in China

Hot Topics

Editor's Picks
...
...
主站蜘蛛池模板: 国产亚洲在线 | 国产永久精品 | 中文字幕在线视频网 | 国产黄色a三级三级三级 | 国产精品美女久久久久网站 | 成年女人在线观看片免费视频 | 欧美黑寡妇特a级做爰 | 久久99这里只有精品国产 | 亚洲精品视频在线观看免费 | 亚洲在线视频网站 | 欧美在线一级精品 | 草草影院私人免费入口 | 国产永久在线视频 | 国产成人看片免费视频观看 | 1024香蕉国产在线视频 | 亚洲欧美日本国产综合在线 | 一级毛毛片毛片毛片毛片在线看 | 新体操真 | 精品久久中文字幕有码 | 国产香港特级一级毛片 | 国产亚洲自在精品久久 | 中文字幕视频免费在线观看 | 亚洲伦乱 | 国产成人免费观看 | 国产成人精品一区二区 | 久久的精品99精品66 | 免费成人| 国产喷水女王在线播放 | 欧美一级特黄aaaaaa在线看片 | 91最新91精品91蝌蚪 | 特级淫片欧美高清视频蜜桃 | 高h原耽肉汁动漫视频 | 国产精品成人不卡在线观看 | 综合视频在线 | 欧美丝袜xxxxx在线播放 | 人摸人操| 国产91香蕉视频 | 亚洲第一影院 | 国产欧美在线观看不卡一 | 亚洲综合自拍 | 性视频亚洲|