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Shanghai, July 5, Reuters - The China Securities Regulatory Commission (CSRC) issuance Review Committee held a meeting on Thursday to examine and approve the application for initial public offering (IPO) of A shares of Nanhua Futures Co., Ltd. and Nanhua Futures may become the first list of IPOs in the futures industry.
Shanghai Securities Daily reported on Friday that there had not been any futures companies listed independently through an IPO before. Industry insiders said that the South China Futures Initial Meeting played a benchmarking role in the futures industry, and more powerful futures companies are expected to IPO in A shares in the future.
The report points out that besides South China futures, Hongye futures and Ruida futures are also going to be listed on A-share market. Among them, Hongye Futures also updated its pre-disclosure documents in the first half of this year. In addition, Yongan Futures announced in March this year that the transfer of "due to major issues" was suspended.
According to the pre-disclosure documents of South China Futures, the proposed IPO will not exceed 70 million shares, and the total equity after the issue will not exceed 580 million shares. The sponsor is CITIC Securities. The funds raised will be used to supplement the company's capital and promote the development of the company's business.
Pre-disclosure documents also show that from 2015 to 2017, the company's net profit was 183 million yuan, 161 million yuan and 196 million yuan respectively, and the net profit achieved continuous growth.
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