| | | | | Founder Securities Approved by CSRC to Merge with Sun Securities
2008-5-29 | | .............................................................................................................................................................................................................................. | ¡¡¡¡On May 12, the China Securities Regulatory Commission formally approved the scheme involving the merger of Founder Securities with Sun Securities, thus the registered capital of Founder Securities has changed to 1.654 billion yuan.
Taking into account the income from equity transfer, the net assets of Founder Securities after the merging will be 6.2 billion yuan, the net capital will be 5.3 billion yuan, the currency funds will be 20 billion yuan and the owner¡¯s fund will be 5.1 billion yuan.
¡¡¡¡Founder Securities will then have 78 business offices and service departments, with outlets covering 15 provinces (municipalities). In 2007, the national market share of the company¡¯s brokerage reached 2.17%, ranking the 12th in comprehensive assessment and the 5th in the average trading volume per department among the country¡¯s brokerage firms.
¡¡¡¡In addition, Founder Securities has submitted its application documents to CSRC on the establishment of a securities company invested in banking with Credit Suisse Group, of which Founder Securities holds a controlling 66.7£¥. Zhongchen Futures and Sun Securities are merged into Founder Futures, and up to now, the work of site shift, name change and client assets shifting have been completed, and the company is to complete the replenishment of Founder Futures, by which time it will hold a controlling share of 85%.
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