CMS readies $2.1bn rights issues

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By Jonathan Breen
08 Jul 2020

China Merchants Securities is planning to tap the Mainland and Hong Kong markets for a pair of rights issues that will raise a combined Rmb14.99bn ($2.13bn).

CMS has been absent from the equity market for more than a year. But it is returning to strengthen its capital position and raise funds to further develop its business, as competition heats up in China’s brokerage industry following Beijing’s capital markets reforms.

In Hong Kong, CMS is ...

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