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Temasek raises stake in CITIC Securities to 9.01%

Jul 15 (China Knowledge) - Temasek Holdings Pte Ltd, Singapore's sovereign wealth fund, recently raised its H share holding in CITIC Securities Co.<600030>, China's largest listed brokerage firm, to 9.01% from the previous 8.95%, according to a statement filed with the Hong Kong Stock Exchange.

The sovereign wealth fund on Jul 9 bought 708,500 H shares of CITIC Securities at an average price of HK$12.82 apiece. The fund spent about HK$9.08 million on the deal.

CITIC Securities said on Friday that it had signed a memorandum of cooperation with Russia's VTB Capita to establish a strategic cooperation relationship. The two sides will collaborate in the fields of cross border mergers and acquisitions, investment, asset management, private equity investment and foreign exchange trading.

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