CITIC Ltd (0267.HK)
(The following statement was released by the rating agency) HONG KONG, March 15 (Fitch) Fitch Ratings says China Overseas Land & Investment Limited's (COLI, A-/Stable) HKD37.08bn (CNY31bn) acquisition of the CITIC Group's property portfolio supports the Chinese property developer's rating. Fitch believes the transaction will not result in a sustained substantial increase in COLI's leverage. This is because it will pay for the transaction via share issuance of HKD29.724bn and with assets wor
HONG KONG, March 14 Chinese conglomerate CITIC Ltd said on Monday it will sell its residential property business in the mainland to China Overseas Land & Investment Ltd for 31 billion yuan ($4.8 billion), as it focuses on commerical property.
* Says the bank will sell its over 3 percent stake in Citic Bank when financial markets improve though is not in any hurry Source text for Eikon: Further company coverage: (Reporting by Madrid Newsroom)
BEIJING, Jan 28 China CITIC Bank Corp confirmed on Thursday it has discovered a fraud involving 969 million yuan ($147.37 million) in funds illicitly drawn from its bill financing business.