China Everbright Holdings Intends To Sell 51% Of Everbright Securities.
November 19th, China China Everbright (0165.HK) announcement that the company intends to sell Everbright Securities (International) Limited 51% of the shares, while the mainland Listed broker Everbright Securities (601788.SH) intends to purchase.
Everbright Securities (International) Limited is registered in the British Virgin Islands and is an indirect wholly-owned Affiliated Companies of China Everbright Holdings Limited.
The indirect wholly owned Affiliated Companies of Everbright Securities (International) Limited includes China Everbright Securities (Hongkong) Co., Ltd., China Everbright foreign exchange, Futures (Hongkong) Co., Ltd., China Everbright Gold Investment Co., Ltd., China Everbright Wealth Management Co., Ltd., China Guangda data research Co., Ltd. and China Everbright Finance Co., Ltd.
China Everbright Holdings believes that cooperation with Everbright Securities will enable it to further develop securities, futures, foreign exchange and gold trading brokerage services, wealth management services, investment banking and research businesses in Hongkong through the extensive network of China Everbright Securities in the mainland of China.
Everbright Securities is also about to expand its business in Hong Kong. It just announced in October 30th that Hongkong subsidiary was approved by the China Securities Regulatory Commission. It will invest HK $200 million with its own capital to set up Everbright Securities Efficient Finance Holding Ltd.
China Everbright Holdings said in its announcement that the equity paction is still in the initial stage of negotiations and may or may not be implemented.
By the end of 6, China Everbright Holdings and Everbright Holdings held 33.92% and 33.33% of Everbright Securities respectively.
In November 19th, Everbright Securities reported 15.60 yuan, up 0.71%.
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