SHANGHAI :
UBS Group to Continue to Increase Shareholdings in UBS Securities Following Relaxing of Investment Restrictions, Senior Executive Says
Chen Juan
DATE:  Nov 13 2017
/ SOURCE:  Yicai
UBS Group to Continue to Increase Shareholdings in UBS Securities Following Relaxing of Investment Restrictions, Senior Executive Says UBS Group to Continue to Increase Shareholdings in UBS Securities Following Relaxing of Investment Restrictions, Senior Executive Says

(Yicai Global) Nov. 13 -- UBS Group AG [VTX:UBSG] will look to increase its shareholdings in its Chinese investment bank and brokerage affiliate UBS Securities Co. following the relaxing of investment ratios related to direct or indirect investments in securities, fund management and futures companies conducted by single or multiple foreign investors, to 51 percent, online media outlet Jiemian News cited Dr. Eugene Qian, director of UBS China Strategy Board and member of the Group's Asia-Pacific Executive Board, as saying today.

UBS Securities, founded in 2006, was jointly invested by Beijing Guoxiang Asset Management Ltd., UBS Group, China Jianyin Investment Ltd. (JIC), State Development & Investment Corp. (SDIC), COFCO Ltd. (COFCO) and International Finance Corp (IFC), based on the reorganization of the former Beijing Securities Co.

UBS Securities is also the first company of its kind in China to hold a full license and foreign investment.

UBS Group is the second largest shareholder in UBS Securities with 24.99 percent of equity. The group previously planned to raise its shareholdings to 49 percent, the upper limit set by the regulators at that time.

Dr. Qian states that the easing of investment ratio restrictions is a milestone in the further opening-up of China's financial industry. "China serves as a crucial market for UBS, and we will keep seeking to raise the shareholdings of UBS Securities," he said.

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Keywords:   UBS,Securities