HONG KONG, March 28 (Reuters) - CITIC Securities Co Ltd expects the whole asset listing of its major shareholder CITIC Group Corp to be completed this year, the chairman of China’s biggest brokerage said on Friday.
The company also does not rule out the possibility of acquiring other Chinese brokerages, Chairman Wang Dongming told a news conference in Hong Kong.
State-owned conglomerate CITIC Group agreed to inject its main operating arm into its CITIC Pacific subsidiary in a deal valuing the combined group at $42 billion. That would make it the biggest backdoor listing ever in Hong Kong. (Reporting by Alison Lui; Writing by Elzio Barreto; Editing by Clarence Fernandez)