Article: SOUTHWEST SECURITIES PLANS CNY6BN SHARE ISSUE


AsiaInfo Services
08-19-2009
Southwest Securities Plans CNY6bn Share Issue

SHANGHAI, Aug 19, 2009 (SinoCast Daily Business Beat via COMTEX) -- Southwest Securities Co., Ltd. plans to raise not more than CNY 6 billion via issuing at most 500 million shares at not lower than CNY 18.7 per share, the Chinese broker said on August 18.

The proceeds will be mainly used to replenish capital and fuel expansion. However, it opened with limit-down price and closed at CNY 18.02 on the day, down 3.6 percent compared to the additional share price.

The broker got listed on the Shanghai Stock Exchange via shell company Chongqing Changjiang River Water Transport Co., Ltd. in February this year and had rose ...

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