Oct 24, 2023 08:13 PM

FINANCE

CICC’s 27 Billion Yuan Refinancing Plan Fails

By Wang Juanjuan and Zhang Yukun

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What’s new: China International Capital Corp. Ltd. (CICC) (601995.SH) has failed to raise a planned 27 billion yuan ($3.69 billion) from shareholders through a rights issue, as the proposal expired Monday.

The issue will not proceed, the securities firm said in a statement, adding that the development will have “no material impact” on its business activities.

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