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China Everbright Holdings Intends To Sell 51% Of Everbright Securities

2010/11/20 16:20:00 284

China Everbright

November 19, China China Everbright (0165. HK) announced that the company intends to sell Everbright Securities 51% shares of (international) limited companies, while the mainland Listed securities companies Everbright Securities (601788. SH) intends to buy.


Everbright Securities (International) Co., Ltd., registered in the British Virgin Islands, is an indirect wholly-owned subsidiary of China Everbright Holdings. The indirect wholly-owned subsidiaries of Everbright Securities (International) Co., Ltd. include China Everbright Securities (Hong Kong) Co., Ltd., China Everbright Foreign Exchange, Futures (Hong Kong) Co., Ltd., China Everbright Gold Investment Co., Ltd., China Everbright Wealth Management Co., Ltd., China Everbright Information Research Co., Ltd. and China Everbright Finance Co., Ltd.


China Everbright Holdings believes that its cooperation with Everbright Securities will enable it to further develop its securities, futures, foreign exchange and gold trading brokerage services, wealth management services, investment banking and research businesses in Hong Kong through Everbright Securities' vast network in the mainland of China.


Everbright Securities is also going to Hong Kong to expand its business. It just announced on October 30 that its Hong Kong subsidiary has been approved by the China Securities Regulatory Commission to set up Everbright Securities Financial Holding Co., Ltd. with its own capital of HK $200 million.


China Everbright Holdings said in the announcement that the equity transaction is still in the preliminary negotiation stage and may or may not be finally implemented.


By the end of June, China Everbright (Group) Corporation and Everbright Holdings respectively held 33.92% and 33.33% shares of Everbright Securities.


On November 19, Everbright Securities closed at 15.60 yuan, up 0.71%.

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