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Founder Securities Co Ltd to Acquire 60% Stake in BEIJING CIFCO FUTURES CO.,LTD

Friday, 26 Apr 2013 08:00pm EDT 

Founder Securities Co Ltd announced that it has decided to acquire 30%, 17.86%, 10.71% and 1.43% stake in BEIJING CIFCO FUTURES CO.,LTD, held by China Guardian, a Hubei-based company, a finance company and a Qinghai-based company, respectively, which is a 60% stake in total, for RMB 359,715,000. After the transaction, BEIJING CIFCO FUTURES CO.,LTD will merge with Founder Futures, which is a subsidiary of Founder Securities. BEIJING CIFCO FUTURES will be the surviving company and Founder Futures will be dissolved.