(Yicai Global) March 12 -- Sinolink Securities has denied that e-commerce giant JD.Com will buy into it, after shares in the brokerage firm shot up on the news, rising at one point by the exchange-imposed daily limit.

Reuters reported today that JD.Com was in talks to buy part or all of the stake held by Sinolink’s largest shareholder, Yongjin Group, as part of an effort to boost its financial services arm.

The stake held by Yongjin is currently worth about USD1.5 billion. Shares in Sinolink [SHE: 600109] surged during trading and closed 8.53 percent higher at CNY14 (USD2.16) today.

"The company has confirmed with the controlling shareholder that the news is not true. The company will issue an official announcement regarding this rumor, and all information shall be subject to relevant announcements. The company reserves the right to pursue legal action against any persons who disseminate false information," it said.

Established in 1996, Sinolink was listed on the main board of the Shanghai Stock Exchange in 1997. It is part of the CSI 300 Index, the SSE 180 Index, the SSE 180 Financial Index and the SSE Medium Enterprise Composite Index.

The operating income of Sinolink was CNY4.73 billion (USD727 million) in the first three quarters of last year, up 62.82 percent year-on-year, and the net profit attributable to shareholders of the company was CNY1.57 billion, a yearly rise of 78.41 percent.

Editor: Tom Litting