Zhong Guo Jing Ji Wang·2025-09-30 03:01Core Viewpoint - Nanjing Securities has received approval from the Shanghai Stock Exchange for its plan to issue shares to specific investors, pending final approval from the China Securities Regulatory Commission (CSRC) [1] Fundraising Details - The total amount to be raised from the issuance of A-shares is not to exceed 5 billion yuan, which will be used to enhance the company's capital [2][3] - The funds will be allocated to various areas including investment banking, wealth management, purchasing government and corporate bonds, asset management, alternative investments, information technology, compliance, and debt repayment [2][3] Allocation of Funds - Investment banking services: up to 500 million yuan [3] - Wealth management services: up to 500 million yuan [3] - Purchase of government and corporate bonds: up to 500 million yuan [3] - Asset management capabilities: up to 500 million yuan [3] - Investment in alternative subsidiaries and private equity: up to 1 billion yuan [3] - Information technology and compliance: up to 700 million yuan [3] - Debt repayment and operational funding: up to 1.3 billion yuan [3] Share Issuance Details - The issuance will not exceed 30% of the total share capital prior to the issuance, amounting to a maximum of 1,105,908,310 shares [4] - The pricing will be based on the higher of 80% of the average trading price over the last 20 trading days or the latest audited net asset value per share [4] - The controlling shareholder, Zijin Group, plans to subscribe for 500 million yuan worth of shares [4][5] Lock-up Period - Shares subscribed by Zijin Group will be locked for 60 months, while those held by other significant shareholders will have a lock-up period of 36 months or 6 months depending on their ownership percentage [5] Underwriting and Sponsorship - The lead underwriter for this issuance is Hongta Securities, with joint underwriters including Dongwu Securities [5]