Mainland brokerages are expected to inject new life into the country's sluggish private-equity sector after the regulator waived rules to help them diversify their revenue sources.
Citic Securities, the mainland's largest brokerage, said it would raise up to 10 billion yuan (HK$12.3 billion)for a buyout fund to be operational in mid-November, according to a report by Bloomberg that cited its general manager Cheng Boming.
via Business feed http://www.scmp.com/business/money/markets-investing/article/1062067/citic-seeks-y10b-aggressive-takeover-fund
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