Industrial's Shanghai IPO hits target 29 September 2010Shanghai Reporter: Ben Wilkie
Image: Shutterstock
Industrial Securities Co raised the maximum amount it sought, 2.63 billion yuan, in its Shanghai IPO.
The broker, based in Fujian, sold 263 million shares at 10 yuan each, the top end of its price range.
The funds will be used to expand the company's brokerage business and build new businesses, including margin trading and securities lending. It will also boost its underwriting capacity and direct lending.
NO FEE, NO RISK 100% ON RETURNSIf you invest in only one securities finance news source this
year, make sure it is your free subscription to Securities Finance Times
Image: Shutterstock 