Galaxy Se­cu­ri­ties plans Shang­hai IPO

China Daily (Hong Kong) - - BUSINESS -

China Galaxy Se­cu­ri­ties plans to sell as many as 600 mil­lion A shares in its Shang­hai IPO, ac­cord­ing to a reg­u­la­tory fil­ing. It plans to use the pro­ceeds raised to ex­pand busi­nesses in­clud­ing short sell­ing, wealth man­age­ment and in­vest­ment bank­ing. Shares to be is­sued won’t ex­ceed 5.92 per­cent of the com­pany’s to­tal equity. The share sub­scrip­tion is sched­uled for Jan 11.

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