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Sovereign Wealth Funds Briefing - Categorized | Asset Allocation, Financials

China Hong Yuan Securities plans $1 bln share sale

Posted on 22 February 2011

From Reuters: Hong Yuan Securities, a mid-sized Chinese brokerage, plans to raise up to 7 billion yuan ($1.07 billion) in a share placement on the Shenzhen Stock Exchange, the company said.
Hong Yuan will sell up to 500 million new shares to no more than 10 select investors in the placement, it said in a statement to the Shenzhen exchange. China Jianyin Investment, a unit of Central Huijin, the domestic investment arm of China’s $300 billion sovereign wealth fund, would subscribe to up to 3 billion yuan worth of shares in the placement, Hong Yuan said……………………………………….Full Article: Source


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