On january 10th citic investment securities co., ltd.(citic construction co., ltd.,601066) announced that its shareholder, citic securities co.(citic securities, ltd.,600030), had expired its plan to reduce its total stake in citic construction investment by%, compared with its current share of%.
According to the letter informing CITIC Securities on the implementation of its plan to reduce its A-share holdings, as of January 10,2020, CITIC Securities had reduced its total stake in CITIC by a total of 10,000 shares, or about% of CITIC's total share capital, through centralized bidding. The total reduction was only $100 million.
On June 25,2019, CITIC disclosed the announcement of its shareholder's plan to reduce its stake, describing the number of planned holdings, the way it has been reduced and the duration of its reduction.
CITIC plans to reduce its total A-share holdings in CITIC through centralized bidding and\/or in bulk trading within six months of the three trading days from the date of disclosure, based on market price conditions, within six months of the 15 trading days after the date of disclosure, according to CITIC's announcement. The reduction period is from July 1,2019 to December 27,2019.
At present, the company has no controlling shareholder and actual controller. Prior to the implementation of the reduction plan, CITIC Securities held a% stake. The reduction did not result in a change in the company's control and had no significant impact on its governance structure, ownership structure and continuing operations.
In response to the planned clearance reduction, Citic Securities Chairman Zhang Youjun told a general meeting of shareholders that Citic Securities, as a head brokerage, is primarily a securities operator and a leading brokerage such as asset size. As a public company, any business behavior will be cautious, will not be contrary to the interests of investors, shareholders'interests, please rest assured that shareholders will also handle all kinds of relationships in the process.
On January 10, CITIC closed 1 per cent higher and CITIC Securities closed 1 per cent higher. (For more original information, please download the \"Surging News\" app)