China brokerages press on with capital plans amid rout

摘要

Chinese brokers are pushing ahead with big funding plans even as their lucrative margin-financing businesses come under fire and a months-long A-share rally shows signs of strain. China calaxy securities proposed a sale of up to 2bn H shares, or 20.97% of its enlarged company capital, through a private placement last Wednesday, two days after the Shanghai A-share market plunged 7.7% in reaction to the regulatory clampdown on margin financing.