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Galaxy eyes domestic listing in H2 2007
click rate:2046 issue time:2007-03-10 08:12


Feb. 8, 2007 (China Knowledge) – Galaxy Securities, one of the Mainland’s three largest brokerages, aims to apply to issue shares on a domestic exchange, at the earliest, during the second half of 2007.


Galaxy received rescue funds of US$1.2 billion from the central government after a four-year stock market slump bankrupted most Mainland brokerages.


Changjiang Securities, which recently severed ties with BNP Paribas, last month said it would achieve a domestic back-door listing through a merger with a loss-making petrochemical unit of China Petroleum & Chemical Corp.