The Pacific Securities Co., Ltd. is a Chinese investment bank and brokerage firm. The company is listed on the
Shanghai Stock Exchange
The Shanghai Stock Exchange (, SSE) is a stock exchange based in the city of Shanghai, China. It is one of the three stock exchanges operating independently in mainland China, the others being the Beijing Stock Exchange and the Shenzhen Stock ...
.
As on 28 November 2016, The Pacific Securities is a constituent of
CSI 300 Index
The CSI 300 () is a capitalization-weighted stock market index designed to replicate the performance of the top 300 stocks traded on the Shanghai Stock Exchange and the Shenzhen Stock Exchange. It has two sub-indexes: the CSI 100 Index and the C ...
(and mid-cap sub-index CSI 200 Index) and
SSE 180 Index
SSE 180 Index is the stock index of Shanghai Stock Exchange, representing the top 180 companies by "float-adjusted" capitalization and other criteria. SSE 180 is a sub-index of SSE Composite Index, the latter included all shares of the exchange.
...
.
The company controls a SPAC listed on NASDAQ. The company also owns 39% stake in Lao-China Securities, a company based in
Vientiane
Vientiane (, ) is the capital city, capital and largest city of Laos. Situated on the banks of the Mekong, Mekong River at the Thailand, Thai border, it comprises the five urban districts of Vientiane Prefecture and had a population of 840,000 ...
, capital and largest city of Laos.
History
The Pacific Securities was founded in 2004 and received the clients of bankrupted Yunnan Securities. In April 2007 it was converted to company limited by shares, with a nominal value of each.
It was reported that
Xiao Jianhua
Xiao Jianhua (, born 13 January 1972) is a Chinese-Canadian businessman and billionaire known for managing assets for the descendants of prominent Chinese leaders. He was taken from Hong Kong to mainland China in 2017. Canadian diplomats were d ...
was behind the operation on listing the company to
Shanghai Stock Exchange
The Shanghai Stock Exchange (, SSE) is a stock exchange based in the city of Shanghai, China. It is one of the three stock exchanges operating independently in mainland China, the others being the Beijing Stock Exchange and the Shenzhen Stock ...
in 2007. Irregularity was founded after, by-then vice-governor of
China Development Bank
China Development Bank (CDB) is a policy bank of China under the State Council. Established in 1994, it has been described as the engine that powers the national government's economic development policies.
, Wang Yi () was arrested. Wang was the vice-chairman of
China Securities Regulatory Commission
The China Securities Regulatory Commission (CSRC) is a government agency directly under the State Council of the People's Republic of China. It is the main regulator of the securities industry in China.
History
Indicative of the role of the C ...
China Foreign Economy and Trade Trust
China Foreign Economy and Trade Trust Co., Ltd. known as FOTIC is a Chinese asset management company (as trust company). The company is a wholly owned subsidiary of Sinochem Group (via Sinochem Corporation for 93.07% and another subsidiary for 6. ...
CMST Development
Capacitated minimum spanning tree is a minimal cost spanning tree of a graph that has a designated root node r and satisfies the capacity constraint c. The capacity constraint ensures that all subtrees (maximal subgraphs connected to the root by a ...
(, 3.33%). The Pacific Securities also exchanged its shares with the shares of
Unida
Unida () is an American stoner rock band formed in 1998. The band's current line-up consists of John Garcia, Arthur Seay, Miguel Cancino and Collyn McCoy. Their debut album, '' Coping with the Urban Coyote'', was released in 1999. A follow-up ...
(former code ), a company delisted in 2007. Other major shareholders were
shareholders' agreement
A shareholders' agreement (sometimes referred to in the U.S. as a stockholders' agreement) (SHA) is an enforceable agreement amongst the shareholders or members of a company. In practical effect, it is analogous to a partnership agreement. There ...
in March 2010 (FOTIC withdrew), as well as "Yunnan State-Owned Assets Management" transferred part of its stake to another Yunnan Government-owned company: Yunnan Industrial Investment Group (). The consortium owned 39.88% shares of the company as the largest shareholder, as well as the chairman of the Pacific Securities, Zheng Yanan (), was also the chairman of UOB Mainland Investment. However, the consortium sold most of their shares since 2011 (decreased to 32.68% in December 2011, 25.38% in December 2012)
The shareholders' agreement was expired again in March 2013, which only Huaxin Liuhe increased its shares (from 10.83% to 10.89%), as well as Yunnan Industrial Investment Group retained its 3.19% shares; Beijing Ximeng Real Estate, UOB Mainland Investment and CMST Development sold their 7.62%, 2.31% and 1.42% shares to 3.79%, 0.31% and unknown level respectively. It was reported that Pacific Securities was ranked the least among the listed "securities firms" of China, in term of revenue of the first half of 2013.
In 2012 the Pacific Securities founded a joint venture in Laos.
In April 2014 the company recapitalized for ( each) by a non-public offering. Each old share also received 0.5 new share in December that year (by converting the
share premium
Capital surplus, also called share premium, is an account which may appear on a corporation's balance sheet, as a component of shareholders' equity, which represents the amount the corporation raises on the issue of shares in excess of their par ...
into share capital), making the share capital had increase from 1,653,644,684 to 3,530,467,026.
Shareholders
As at 31 December 2015, the only shareholder with more than 5% shares was Beijing Huaxin Liuhe Investment for 12.75% (450,248,500). Despite 225 million of them were restricted to sell (until 21 April 2019), more than half of its shares (251,020,000) were pledged (), to China Fortune International Trust (160 million restricted shares) since December 2015, to China Merchants Securities (51.98 million free-floating shares) since March–April 2015, as well as pledged to other companies. The shares pledged to China Merchants Securities, all of them were also pledged to the same investment bank from March 2014 to February 2015 (108 million shares free-floating shares); the shares pledged to China Fortune International Trust, were also pledged to
New China Fushi
New or NEW may refer to:
Music
* New, singer of K-pop group The Boyz
* ''New'' (album), by Paul McCartney, 2013
** "New" (Paul McCartney song), 2013
* ''New'' (EP), by Regurgitator, 1995
* "New" (Daya song), 2017
* "New" (No Doubt song), 19 ...
from April 2014 to November–December 2015 (225 million restricted shares).
The second largest shareholder (), which owned 4.25% shares (150 million), is a private company based in
Dalian
Dalian ( ) is a major sub-provincial port city in Liaoning province, People's Republic of China, and is Liaoning's second largest city (after the provincial capital Shenyang) and the third-most populous city of Northeast China (after Shenyang ...
. The company bought 100 million number of shares from non-public offering for each (before 0.5 additional new shares to each 1 old share). However, the company also pledged 140 million shares as at 31 December 2015.
Financial data
*Note, share capital and number of shares had changed in 2007, 2012 and 2014