Feb 26, 10:53 AM

CICC to Merge with China Galaxy Securities, Creating Third-Largest Brokerage with $193 Billion in Assets

China International Capital Corp (CICC) is reportedly set to merge with China Galaxy Securities, which would create the country's third-largest brokerage with approximately $193 billion in assets. This information was initially reported by Reuters, citing unnamed sources. However, the public relations departments of both CICC and Galaxy Securities have stated they were unaware of any potential merger. Additionally, CICC confirmed that it has not received any written or verbal communication regarding the merger from government entities, regulators, or shareholders. The merger, if confirmed, is expected to be announced in the coming weeks as it has reportedly gained support from relevant Chinese authorities.

#China International Capital Corp #CICC #China Galaxy Securities #Reuters #Galaxy Securities #Chinese

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