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Western Securities’ IPO Review Completed

Source: 21st Century Business Herald, ChinaScope Financial (Data)

+ Sources say that the IPO review of Western Securities has been completed, and that the China Securities Regulatory Commission (CSRC) will grant the approval soon.

+ Western Securities plans to issue a maximum of 200 million shares, with an issue price of CNY 11.88 per share, with the goal of raising CNY 2.38 billion.

Measured in terms of total assets and net profit, Western Securities is on a par with its competitors. The brokerage sector shrank in 2010 because of weak stock market performance.

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