Industrial's Shanghai IPO hits target
29 September 2010 Shanghai
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.
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.
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