Citic Securities (H) Watchlist
The Citic Securities Rights Offering - Dilution Against Timing
444 Views, 19 Jan 2022 01:46
- Citic Securities has launched a Rights Offering for H Shares and A Shares. The price is basically the same, which means a very big discount for A holders.
- The timing is different, and the H share Rights Issue process is drawn out past Chinese New Year. This may affect takeup rates and bullishness.
- The difference in capital approach between Dual H/A-share listed SOEs like Citic Securities and like China Mobile is stark. The dichotomy may expand.