Citic secures $1.5b in strategic NSSF H-share deal

China's social security fund will own 5.02% of Citic upon completion of the deal, and has entered into a three-year strategic cooperation with the brokerage.

Citic secures $1.5b in strategic NSSF H-share deal

Citic Securities will issue new H-shares to China’s National Council for Social Security Fund and raise HK$11.52 billion $1.49 billion.   

Some 640 million shares will be offered at HK$18 per unit, according to a filing on the Hong Kong Stock Exchange website. This is a 43% discount to the broker’s June 8 closing price of HK$31.65.

The shares on offer represent 54.3% of the total issued...

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