Citic Securities

How did international banks miss Citic Pacific's US$36 billion takeover deal?

A small team of merger and acquisition specialists at Citic Securities, a subsidiary of Citic, in Beijing worked on the reverse takeover of Citic Pacific. Photo: Reuters

Jealous. This is the word many Western bankers in Hong Kong will use when they talk about the mega-sized reverse takeover deal of Citic, one of the most important state-owned industrial giants on the mainland.

Tuesday, 1 April, 2014, 8:45am 5 comments

China launches its biggest OTC board to aid SME financing

China has launched its biggest over-the-counter equity trading platform in Shenzhen, aimed at increasing access to finance for small and medium-sized enterprises and offering much looser listing requirements than the country’s main exchanges.

31 May 2013 - 1:00pm

Chinese broker lifts stake in asset firm

CITIC Securities plans to buy back a 10 per cent stake in mutual fund house China Asset Management.

Citic Securities, the mainland's largest brokerage, plans to buy back a 10 per cent stake in mutual fund house China Asset Management, in a move to boost its sliding margins.

The company said it would spend up to two billion yuan (HK$2.53 billion) to buy the stake from Wuxi Guolian Development Group, raising its ownership of the asset management firm to 59 per cent.

23 May 2013 - 4:27am

Brokerage leader eyes new paths to profit

Wang Dongming, chairman of Citic Securities Company Limited. Photo: Edward Wong

Citic Securities aims to expand into asset management and build its overseas business to boost profitability. The move comes in the face of a sharp slowdown in domestic stock offerings and lukewarm trading sentiment.

29 Mar 2013 - 4:16am

Former CLSA analyst writes quit-and-tell-all book

As safe as money in the bank?

Daniel Tabbush, who for many years was CLSA's head of regional banking research, has published a why-I-quit-the-rat-race book. Titled Quit & Run - My Wake Up Call on Wall Street, the book describes how he got into the finance industry, his thoughts about his work and why he left.

28 Mar 2013 - 6:31am 2 comments

Hang Seng soars as mainland rally excites investors

The Hang Seng Index finished at its highest close since April 2011.

Investors were also excited by the onshore market, which rallied for a third day after a mainland official said Taiwanese institutional investors might have an extra 100 billion yuan (HK$123 billion) added to their quota to invest in the mainland capital market under the qualified foreign institutional investor scheme.

31 Jan 2013 - 5:20am

Briefs, January 10, 2013

Mercedes-Benz sales in China up 4pc to record

Unaudited net profit at Baoshan Iron & Steel, the country's largest listed steelmaker, rose about 40 per cent last year to 10.3 billion yuan (HK$12.8 billion), helped by the sale of some assets, the firm said. But operating profit before one-off items fell 33 per cent to 6.2 billion yuan.

10 Jan 2013 - 4:21am

Market Open:Hong Kong stocks seen higher as China manufacturing rises

Hong Kong stocks may open higher after data showed that manufacturing rose further in November month-on-month, adding another proof that the Chinese economy is bottoming out.

3 Dec 2012 - 9:22am

Tung Chee-hwa's faulty connection to the leadership

Return of the meat.

We had always assumed that former Hong Kong chief executive Tung Chee-hwa was pretty well plugged into what was going on in the upper echelons of the leadership in the mainland. But the recent changing of the guard and the new lin-up in Beijing would seem to indicate that is not actually the case.

17 Nov 2012 - 4:13am 1 comment

Citic seeks ¥10b for aggressive takeover fund

Citic seeks ¥10b for aggressive takeover fund

Mainland brokerages are expected to inject new life into the country's sluggish private-equity sector after the regulator waived rules to help them diversify their revenue sources.

16 Oct 2012 - 4:03am

CITIC Securities Results: Set for Rebound?

Securities brokers certainly aren't having much fun these days, watching their profits shrivel as China's stock markets hover at 3-year lows.

31 Aug 2012 - 9:29am

Citic Securities stock falls as firm buys into CLSA

Shares in Citic Securities dropped yesterday following news that the mainland investment bank will purchase a minority stake in Hong Kong-headquartered brokerage CLSA.

In Hong Kong the stock fell 7.3 per cent to HK$13.48, while the Shanghai share price fell 4.1 per cent to 12.30 yuan.

24 Jul 2012 - 12:00am

Yuan funds prove 'lure' for foreign capital

The lure of high returns on yuan bonds is encouraging foreign investors to place capital with the first offshore yuan-denominated funds now being marketed abroad, according to James Wang, the chief investment officer of Citic Securities International Investment Management.

20 Feb 2012 - 12:00am

Mainland packaging firm Jin Bao Bao seeks HK$65m in share offer

Mainland packaging and component manufacturer Jin Bao Bao Holdings seeks HK$65 million in a public offering today and a wave of more sizeable listing attempts may materialise in the coming two months if market sentiment improves.

8 Nov 2011 - 12:00am

Mainland rail companies battered on HK exchange

The mainland's railway companies were among the worst performers of the stock market yesterday following unsatisfactory third-quarter results.

1 Nov 2011 - 12:00am