March 27 China's CITIC Pacific Ltd
plans to sell about $4 billion of shares to restore its public
float after absorbing assets from state-owned parent CITIC Group
Corp, Bloomberg reported, citing people with
knowledge of the matter.
CITIC Pacific may approach sovereign wealth funds like China
Investment Corp and Singapore state investor Temasek
Holdings about buying stock in the offering, Bloomberg
CITIC Pacific said in a filing late on Wednesday that it
will acquire 100 percent of CITIC Ltd, the business housing the
CITIC Group assets, using a combination of new shares and cash.
CITIC Pacific could not immediately be reached for comment
CITIC Ltd's businesses in China range from real estate to
banking, securities, infrastructure, energy, natural resources
and engineering among others.
(Reporting by Supriya Kurane in Bangalore; Editing by Kenneth