Shares of CITIC Securities Co., Ltd. (HKG:6030, SHA:600030) surged 5.12% on September 26, 2024, boosted by the company's role as the sponsor and lead underwriter for the upcoming initial public offering (IPO) of Alnera Aluminium (SHE:301613) on the Shenzhen Stock Exchange.
Alnera Aluminium, a Chongqing-based aluminum alloy parts maker for new energy vehicle battery systems, filed for an IPO on Thursday. The company plans to offer up to 23,973,600 shares, representing 25% of its total share capital after the IPO. The offer price has not yet been determined.
As the lead underwriter, CITIC Securities will play a crucial role in the IPO process, managing the offering and helping Alnera Aluminium raise capital from investors. This prestigious mandate is a positive development for CITIC Securities, reflecting its strong position in the investment banking industry and the confidence of companies seeking to go public.
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