China Galaxy eyes HK$17.7bn from private placement
sukporn - Fotolia
China Galaxy Securities has set its sights on raising funds via a private placement of shares, following in the footsteps of other brokers such as Citic Securities and Haitong Securities, both of which announced deals in December. The news of Galaxy’s transaction, which could raise as much as HK$17.7bn ($2.30bn) based on today's share price, comes as the Chinese regulator cracks down on margin lending by brokerage houses.
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