Dec. 24, 2010 (China Knowledge) – CITIC Securities Co600030, the largest listed brokerage firm in China, said it has completed the sales of an 8% stake in China Securities Co to Beijing-based real estate developer Century Golden Resources Group.
The securities firm said in a statement filed with the Shanghai Stock Exchange that its stake in China Securities has dropped to 7% after the sale.
In late June, CITIC Securities offered to sell a 45% stake in China Securities for RMB 7.29 billion and an 8% stake for RMB 1.3 billion.
In early November, Beijing State-owned Capital Management Center bought the 45% stake in China Securities.
CITIC Securities said earlier this month that it had extended the negotiation deadline for forming a 50:50 joint venture with France-based Credit Agricole Corporate and Investment Bank to Jun. 30 next year from Dec. 31, China Knowledge reported earlier.
Copyright © “2010” www.chinaknowledge.com
Send feedback or comments to: news@chinaknowledge.com
For more news, financial weekly reports, business guides to China, Market Research Reports and other premium information, subscribe to China Knowledge today
To access our page on Bloomberg, type CKFI (GO)
Open all references in tabs: [1 – 5]