News Column

CIC, Qatar Said to Spend CNY31.2bn on CITIC Pacific Shares

May 12, 2014

BEIJING, May 12, SinoCast -- For the acquisition of the parent company CITIC Group, CITIC Pacific (SEHK: 0267) earlier proposed to raise about CNY 63 billion through issuing new shares.

Market sources said Qatar Foundation, China Investment Corporation and China'sNational Council for Social Security Fund have been determined to subscribe for a total of more than 31.2 billion new shares. Plus shares held by existing investors, this will the issuer to meet the listing requirement that negotiable shares will not be less than 15% of the capital stock.

The group's spokesperson replied the group will not respond to the market rumors.

To promote CITIC Securities to become a world-class investment bank, CITIC Group was reported to require CITIC Securities to exclusively underwrite this overall listing and will not introduce into other investment banks.

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Source: Sinocast Investing & Securities Beat (China)