Date
22 April 2018

CSRC fund to sell 83% of Essence Securities, Xinhua says

The China Securities Regulatory Commission-controlled China Securities Investor Protection Fund wants to sell an 83.14 percent stake, or 2.66 billion shares, in Essence Securities Ltd. for 13.7 billion yuan (US$ 2.24 billion), Xinhua reported late Monday, citing data from the Beijing Financial Assets Exchange. Essence Securities was established in Shenzhen in 2006 with 1.51 billion yuan in registered capital. The firm’s other investor is Shenzhen Investment Holdings Co. Ltd. The securities firm’s net profit reached 323 million yuan in 2012 and 327 million yuan from January to August this year, the report said.

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AC/SK

 

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