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Stock impact report

Credit Suisse gets approval to take majority stake in China JV [Reuters]

Nomura Holdings Inc ADR American Depositary Shares (NMR) 
US:NYSE Investor Relations: nomuraholdings.com/investor
Company Research Source: Reuters
Credit Suisse gets approval to take majority stake in China JV HONG KONG (Reuters) - Credit Suisse ( CSGN.S ) has received regulatory approval to take a majority stake in its Chinese investment banking joint venture, the bank said in a statement on Friday. It is the latest international investment bank to receive approval from the China Securities Regulatory Commision (CSRC), after the rules limiting foreign banks to 49% ownership of their China operations were eased in 2018. Bankers say that majority control allows them to make better use of their global network to win market share in China. The Swiss bank will increase its stake in Credit Suisse Founder Securities from 33.3% to 51% via a capital injection. Credit Suisse Founder Securities provides investment banking services including sponsoring and underwriting of shares and bonds and financial advisory services. “We believe the securities entity will enable us to develop our onshore capabilities. We intend to continue to invest Show less Read more
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