On August 7, the National Financial Regulatory Administration issued a formal approval regarding CHINA CINDA's planned equity participation in CICC. The regulator has authorized the company to acquire shares from certain minority shareholders of Cinda Securities Co.,Ltd. using cash, with the total transaction amount not exceeding RMB 500 million (inclusive).
Furthermore, the regulatory body has given the green light for CHINA CINDA to exchange both the newly acquired shares from Cinda Securities Co.,Ltd. minority holders, alongside its entire existing stake in Cinda Securities Co.,Ltd., for equity in China International Capital Corporation Limited.
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