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Great Wall to up stake in Industrial Securities

(Xinhua)
Updated: 2007-01-18 15:50

China Great Wall Asset Management Corp (AMC) is increasing its stake in Industrial Securities Co Ltd to about 27 percent, the Securities Times reported.

Sources said that Great Wall AMC has recently bought about 20 percent stake from several shareholders of the brokerage. Upon completion of the share transfer, Great Wall will become the largest shareholder in the securities company.

The government of Fujian Province, where Industrial Securities is based, also plans to raise its stake from the current 11.8 percent to become the controlling shareholder.