As the first foreign institution to buy into a mainland brokerage, global investment bank UBS will pay US$210 million for a 20% stake in debt-ridden Beijing Securities, according to the South China Morning Post, citing China Business Post. UBS's 300 million shares in Beijing Securities will make it the largest single shareholder. China Securities Regulatory Commission may pilot new regulations waiving a 33% cap on foreign stakes and allowing foreign firms to control select brokerages in an effort to prop up the flagging sector.
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