deutsche-applies-for-china-jv-underwriting-license

Deutsche applies for China JV underwriting license

The German bank aims to increase its business reach in China with an underwriting license.
June 26, 2008
Deutsche Bank AG is hoping to add to its line-up of China businesses by applying for an underwriting license to the China Securities Regulatory Commission, specialists have told FinanceAsia. The license, which reportedly was applied for about a week ago, would be held by a joint venture 33.3% held by Deutsche and 77.7% held by Shanxi Securities, which is based in northeast ChinaÆs Taiyuan City. Shanxi Securities has 28 branches of which 20 are in Shanxi province and the rest in Beijing, Shanghai and other major cities. ItÆs not clear how long the approval process by the CSRC will take, nor has it been disclosed how much Deutsche Bank paid for the stake....
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