CITIC Securities tops underwriters

SHANGHAI: CITIC Securities Co, the largest listed domestic brokerage, and its subsidiary have topped the list of brokers earning underwriting fees for the first batch of stock listings on the NASDAQ-style growth enterprises board (GEB), which is to be officially launched today.

CITIC, together with CITIC China Securities, in which the former holds a 60-percent stake, have earned underwriting fees worth 188.97 million yuan in three initial public offerings (IPOs).

The two brokers' combined underwriting commission accounted for 26.3 percent of the total made by all the 23 domestic broker participants, with Beijing Ultrapower's 166.97 million yuan underwriting fee earned by CITIC Securities ranked at the top.