Aug. 1, 2012 (China Knowledge) - Everbright Securities Co<601788
>, a major brokerage firm in China, announced yesterday that it plans to raise about RMB 7 billion through a private placement to expand its business.
The securities firm said in a statement that it plans to issue up to 6 million new shares to not more than ten investors at a price of at least RMB 11.74 apiece.
China Everbright Ltd<0165
>, the second-largest shareholder of Everbright Securities, will subscribe up to 20 million shares in cash.
Everbright Securities has reported a net profit attributable to shareholders of RMB 829 million for the first half of this year, 26.62% less than in the same period of 2011.