CITIC Securities Company Limited (SSE: 600030) is engaged in securities business in China, including securities brokerage, investment banking, asset management, securities investment, stock and bond trading, stock market research and consulting services. [1] It was established in 1999 and it is headquartered in Shenzhen, Guangdong. Its parent company is CITIC Group.
Listing
CITIC Securities was listed on the Shanghai Stock Exchange in 2003. It is one of the SSE 50 constituent stocks and one of the top ten constituent stocks in iShares FTSE/Xinhua A50 China Tracker.[2]
Rank
In 2008 CITIC Securities Co topped the list of 107 securities companies and became No 1 underwriter, according to the Securities Association of China. CITIC Securities underwrote 111.93 billion yuan ($16.36 billion) in stocks and bonds, accounting for 17.6 percent of the total underwriting amount of this sector, while 2007 champion China International Capital Corporation (CICC) has assumed the role of the runner-up, reaching 10.3 percent market share. Due to a sluggish capital market, the two companies' underwriting business in 2008 dropped about 17 percent and 55 percent respectively year-on-year.
On 16 March, 2009, CITIC Securities Co., the biggest securities firm by market value on the mainland, said it had set up an investment-banking venture with Evercore Partners Inc.Former Bear Stearns Cos. vice chairman Donald Tang would be chief executive officer of the new company, called CITIC Securities International Partners.
External links
References
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Shenzhen, Guangdong, China
