Tianfeng Securities (SHA:601162) expects to raise 4 billion yuan from the issuance of shares, according to a Thursday filing with the Shenzhen Stock Exchange.
About 1.50 billion shares will be issued to up to 35 investors, the Chinese securities broker said.
The proceeds will increase the company's capital, supplement its operating funds, and pay debts.
The issuance will not change the controlling shareholder of the company.
The company's shares rose less than 3% in recent trade.
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