Chinese financial institutions raised over US$10 billion last year to fund their overseas expansion and boost the yuan’s internationalisation in line with Beijing’s go-global push, with the trend continuing this year.
GF Securities is raising HK$6.12 billion (US$780 million) from the placement of over HK$3.97 billion worth of new shares and HK$2.15 billion from zero-coupon convertible bonds.
The Guangzhou-headquartered brokerage planned to use the proceeds to inject capital into its offshore...
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