Shares of China Industrial Securities International Financial Group Ltd (CICC) surged over 5% on Tuesday following the company's announcement of disposing $10 million worth of perpetual securities.
The Beijing-based investment bank said it had sold the perpetual securities for a consideration of $9.9 million. While the transaction amount is relatively small, it is seen as a positive move by investors as it could improve CICC's financial flexibility and balance sheet strength.
Perpetual securities, also known as hybrid securities, have characteristics of both debt and equity. By disposing these securities, CICC can reduce its leverage and future interest payment obligations. This could free up capital for the firm to invest in core operations or new business initiatives.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。