CITIC enters partnership with NSSF
CITIC Securities has entered into a strategic cooperation framework agreement with the National Social Security Fund (NSSF) to deliver a range of services, including securities lending.
NSSF will also access CITIC services such as domestic and overseas investments, asset management, value management of domestic and overseas stock assets, block trade and asset securitisation.
CITIC has conditionally agreed to alot and issue a subscription of new H shares by the NSSF. The subscription will consist of 640,000,000 H Shares at the price of HK$18 per new H Share.
The board of the NSSF are authorised to allot and issue up to 1,500,000,000 H Shares under the 2015 first specific mandate.
NSSF has undertaken to the Company, among others, that within 36 months from the date on which the New H Shares are listed and traded on the Hong Kong Stock Exchange, NSSF shall not transfer any or all of the New H Shares.All services will be compliant with both the People's Republic of China laws and regulations and relevant NSSF internal rules.
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