Citic Securities (6030.HKG, 600030.SHA) plans a new public issue of 1.5 billion Hong Kong-listed H shares to supplement capital to help expand businesses, Reuters reported, citing a filing to the Shanghai Stock Exchange. Up to 70% of the proceeds would be used for the development of margin trading on the mainland and other intermediate businesses, with 20% to be used for the development of cross-the-border businesses and the remaining 10% for consolidation of working capital. According to a statement issued late on Sunday, the issuance plan is still pending shareholder and regulatory approval.
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