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Article: HUATAI SECURITIES TO ACQUIRE SISTER COMPANY FOR IPO

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AsiaInfo Services
Article date:
September 6, 2007
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AsiaInfo Services
09-06-2007
Huatai Securities to Acquire Sister Company for IPO

NANJING, Sep 06, 2007 (SinoCast via COMTEX) -- Huatai Securities Co., Ltd., the biggest securities firm in East China's Jiangsu Province, is acquiring its sister company Xintai Securities Co., Ltd., said sources. The deal has been submitted to the provincial government, pending approval.

Both based in Nanjing, capital of Jiangsu province, the two companies have same largest shareholder Jiangsu Guoxin Investment Group Limited, which is the investment vehicle of Jiangsu provincial government.

As the government is pushing Huatai Securities to go public, the deal is understood to clear the way for its initial public ...

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