BEIJING, Nov. 27 (Xinhua) -- China Galaxy Securities has recently announced that it agreed to buy a 16.68-percent stake held by the RBS Asia Futures Limited in the Galaxy Futures Company, which will make the futures company a wholly-owned subsidiary of Galaxy Securities.
Galaxy Securities signed an equity transfer agreement with the RBS Asia Futures Limited on November 21 and would pay 239 million yuan for the equity acquisition in cash.
In view of the impact on the securities company after the equity acquisition, Galaxy Securities said that the equity acquisition will help consolidate its position in the domestic capital market and enhance its brand influence, while gaining shareholder returns. (Edited by Hu Pingchao, hupingchao@xinhua.org)
A single purchase
