Realord Group, a company listed in Hong Kong Exchanges, will sign an agreement with Guangdong Financial Investment Holdings, Hongjing Investment and Poly Property Management and other companies to jointly open a securities joint venture(JV). The JV will be established in  the Nansha New Area of Guangdong Pilot Free Trade Zone and run securities business in Chinese mainland. Once approved, the JV will be the 2^nd securities company run in China’s free trade zones after Shanghai-Hong Kong Securities and the 1^st securities company jointly funded by Guangdong and Hong Kong.

 

Realord Manureen Securities Limited will subscribe 3.5 shares of the JV with cash, accounting for 10% of the JV’s equity, with the total subscription value of RMB350 million (About HK$417 million). Besides Realord, the shareholders of the JV also include Guangdong Financial Investment Holdings with Guangdong Provincial Government as the dominant shareholder and three listed companies. The JV will mainly focus on securities brokerage, securities subscription, securities sponsorship, management of securities assets and self operation of securities.

 

Source: Translated from Invest Guangzhou, May 25, 2016.