CITIC Securities Co and its subsidiary have topped the list of brokers earning underwriting fees for the first batch of stock listings on the NASDAQ-style growth enterprises board (GEB).
CITIC Pacific is interested in floating shares on the Chinese mainland, where the securities regulator is considering setting up an international board on the Shanghai Stock Exchange.
China Investment Corp (CIC), China's US$200-billion sovereign wealth fund, has agreed to invest HK$2 billion for a 40% stake in private equity fund manager CITIC Capital, Reuters and Caijing magazine reported, citing unnamed sources.
Citic Group, the parent company of Citic Securities and China Citic Bank, estimated a slight drop in net profit from 15.97 billion yuan last year to more than 14 billion yuan (US$2.06 billion) in 2008 on Wednesday.
Investment company Citic Group has come to the rescue of its ailing Hong Kong affiliate Citic Pacific by lending HK$11.6 billion to cover its bad currency debts of over HK$15 billion.