Everbright Securities prepares for early IPO
(Xinhua)Updated: 2007-02-12 08:46
Everbright Securities Company is planning to go public as early as
possible, said its Chairman of Board Wang Mingquan at its annual working
conference.
Robust economic growth, improvements in China's capital market regulations and the performance of securities brokerages, Everbright has a rare opportunity to strengthen itself by going public, Wang said.
China's securities companies are quite small compared with international giant brokerages, such as Goldman Sachs and MorganStanley, and most of them are not listed on the stock market.
CITIC Securities is one of the few to have been listed on the mainland stock market. CITIC Securities share prices jump from four yuan to above 20 yuan over the last year.
The Shanghai-based Everbright Securities was established in 1996. In 2006, its net asset yield was 30.53 percent, according to its sources.
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