CITIC Securities Faces Litigation Over 2017 Share Placement
CITIC Securities' subsidiary, South China Company, is involved in a securities misrepresentation litigation concerning a 2017 private share placement by Tunghsu Optoelectronics. The case involves 37 defendants and claims of RMB1,828,167.34 from 11 plaintiffs. The litigation is not expected to significantly impact CITIC Securities' financial performance, as potential losses were accounted for before acquiring Guangzhou Securities. The company will monitor the litigation and fulfill disclosure obligations.
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CITIC Securities Co ( (HK:6030) ) has issued an update.
CITIC Securities’ subsidiary, South China Company, is involved in a securities misrepresentation litigation related to a 2017 private placement of shares by Tunghsu Optoelectronics. The litigation, which includes 37 defendants, involves claims amounting to RMB1,828,167.34 from 11 plaintiffs. This case is not expected to significantly impact CITIC Securities’ financial performance as the potential losses were accounted for prior to acquiring Guangzhou Securities. The company will continue to monitor the litigation’s progress and fulfill its disclosure obligations.
The most recent analyst rating on (HK:6030) stock is a Hold with a HK$29.00 price target. To see the full list of analyst forecasts on CITIC Securities Co stock, see the HK:6030 Stock Forecast page.
More about CITIC Securities Co
CITIC Securities Company Limited is a leading financial services firm in China, primarily engaged in securities brokerage, investment banking, and asset management. The company focuses on providing comprehensive financial solutions and services to its clients, leveraging its extensive market expertise and resources.
Average Trading Volume: 14,605,244
Technical Sentiment Signal: Buy
Current Market Cap: HK$435.1B
Learn more about 6030 stock on TipRanks’ Stock Analysis page.
