日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

Economy

Markets

Industries

Insights

Reports

Events

Brokerage beefs up to ease IPO issue

(Shanghai Daily)
Updated: 2007-06-13 09:32

Guodu Securities Co is placing additional shares with investors to bolster net capital with an aim to launch an initial public offering as early as next year, a media report said yesterday.

Guodu, a Shenzhen-based medium-sized broker, is likely to nearly triple its net capital to 4.5 billion yuan (US$589 million) after its current round of fundraising, the China Securities Journal said, citing unnamed company insiders. Officials at Guodu were not available for comment yesterday.

Related readings:  Record number of firms to list overseas  Brokers see net income surge  Shenzhen exchange demands brokers file monthly trading reports Find more in Markets Watch

Guodu, set up in December 2005, now has 1.458 billion yuan in net capital and 1.573 billion yuan in net assets, the report said. China Credit Trust and Beijing International Trust each holds a 24.29 percent stake as the broker's biggest shareholders.

The funds raised through the additional offering can meet the demands of the broker to expand in one to two years, the report said. The brokerage may also set up a subsidiary in Hong Kong, it said.

In addition, Guodu plans to boost its brokering, underwriting, asset management businesses as well as exploring derivative services such as margin trading, securities lending, index futures, covered warrants and private equity.

The broker will kick off IPO preparations right after the capital infusion and is expected to apply to the China Securities Regulatory Commission next year or in 2009, the report said.

A string of Chinese mainland brokerage houses are seeking to conduct IPOs or back-door listings as the stock regulator encourages strong firms to expand before further deregulating the market to foreign competition.