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Minzu, Goldstate Securities to merge for IPO

By Yang Zhen (chinadaily.com.cn)
Updated: 2009-03-16 14:41

Minzu Securities plans to merge with Goldstate Securities aiming for a domestic public listing, Securities Times reported on Monday.

The merger plan between the two securities firms is expected to be released at the end of March and the combined brokerage will set its sights on an initial public offering (IPO), the Shenzhen-based newspaper quoted an unnamed source as saying.

Both Minzu Securities and Goldstate Securities are controlled by Capital Airports Holding Company, which holds 61.25 and 95.56 percent stakes in them respectively.