Key facts
- Citic Securities plans to raise 16 billion yuan (US$2.4 billion).
- The funds will be raised through a new H-share placement.
- The move supports China's push for globally competitive investment banks.
- Chinese brokerages are increasingly expanding operations overseas.
As Chinese firms increasingly look to expand globally and Beijing aims to foster world-class investment banks, leading Chinese brokerages are accelerating their international operations. Citic Securities' planned capital raise is a significant step in this ongoing trend of overseas expansion and building financial sector competitiveness.