SIG may take Guotai Jun'an shares

By Bi Xiaoning (chinadaily.com.cn)
Updated: 2008-12-19 16:56

Shanghai International Group (SIG) may take over shares in Guotai Jun'an Securities when Central Huijin Investment Co, which presently hold the shares, offloads them in January at the end of their three-year contract.

SIG has reached an agreement with Central Huijin Co to buy its 1 billion shares in Guotai Jun'an Securities at about 3 yuan (44 US cents) per share, a premium of 200 percent of its book value, Shanghai Securities News reported today, citing unnamed resources.

Central Huijin Co, an investment arm of the government, invested 1 billon yuan in Guotai Junan Securities in 2005 and agreed with local government to offload the shares on Jan 9, 2009.

Founded in 1999, Guotai Jun'an Securities' registered capital is 4.7 billion yuan at present. Its largest shareholders are Shanghai State-owned Assets Management Co and Central Huijin Investment Co, which hold more than half of the company's shares in total.

Founded in 2000, SIG is led by the Shanghai State-owned Assets Supervision and Administration Commission. SIG is the holding company of Shanghai State-owned Assets Management Co.

Currently, SIG is the holding company of Shanghai Securities Co and also holds about 10 percent shares of Shenyin & Wanguo Securities.

Once taking the shares sold by Central Huijin Co, SIG will become the holding company of Guotai Jun'an Securities, with over half of the firm's shares.

However, according to related regulations, securities firms can't operate the same business if they are controlled by the same shareholder.

Market rumors say that SIG will soon embark on a round of integration among the brokerage firms controlled by the Shanghai municipal government.

(For more biz stories, please visit Industries)

亚洲视频免费一区,国产欧美综合一区二区,亚洲国产观看,91精品啪在线观看国产91九色,日本又黄又粗暴的gif动态图含羞,麻豆国产一区二区在线观看,中文字幕在线二区