Published by Hubbis 16th Apr 2019
Credit Suisse has reached an agreement with Founder Securities to increase its shareholding in its Credit Suisse Founder Securities (“CSFS”) joint venture, subject to regulatory approvals.
Established in 2008 and headquartered in Beijing, CSFS focuses on providing a range of capital markets services to clients in the domestic China market, including sponsoring and underwriting A-shares, foreign investment shares, and government and corporate bonds as well as providing financial advisory services. Since October 2016, it has also operated a securities brokerage business in Shenzhen Qianhai.
As a result of the agreement, Credit Suisse’s shareholding is expected to increase from 33.3% to 51% by way of capital injection. The shareholding of Founder Securities in CSFS will reduce to 49% as a result.
The completion of this transaction remains subject to regulatory approvals. Credit Suisse will continue to work closely with Founder Securities and the respective regulatory authorities in this regard.
