Tianfeng Securities Announces RMB8.2bn Private Placement Plan

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Tianfeng Securities [601162:CH] has recently announced a private placement plan, as reported by Sina on April 30. The firm plans to newly issue 1.999bn shares at a price of RMB4.09 per share, raising a total of RMB8.18bn. According to the announcement, not only financial institutions, including five other securities firms, one mutual fund and one insurance firm, but state-owned enterprises (SOEs) have also expressed their interests in participating in Tianfeng Securities’ private placement.

Upon the completion of the non-public offering, Tianfeng Securities’ registered capital is expected to rise to RMB8.67bn, ranking ninth among Chinese securities companies. Meanwhile, its total assets and net assets will exceed RMB100bn and RMB30bn, respectively. The non-public offering will effectively help Tianfeng Securities improve business development. More importantly, from the point of view of the regional distribution of the investors introduced this time, they will collectively enable Tianfeng Securities to penetrate to more regional markets in China. On April 27, Tianfeng Securities released its 2020 annual report, showing that the company's annual revenue and net profit attributable to the parent company were RMB4.36bn and RMB455m in 2020, up 13.35% and 47.80% YoY.

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