BEIJING, Sept. 2 (Xinhua) -- China International Capital Corporation Limited (CICC) planned to make an initial public offering (IPO) of no more than 459 million shares on the Shanghai Stock Exchange, according to the company's pre-disclosure document published on regulator's website on Tuesday.
The IPO proceeds will be used to increase the company's assets, supplement the company's working capital, and support the company's domestic and overseas business development.
CICC stated that it will use the raise funds to further strengthen investment in fields such as financial technology and internationalization, and to seize M&A opportunities in due course.
Besides, the company said that it will step up efforts to consolidate the competitive advantages of its investment banking business, and build itself into a world-class fixed income business platform and the trustworthy wealth management institution.
(Edited by Yang Yifan with Xinhua Silk Road, yangyifan@xinhua.org)
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