Zhongshan Utilities Acquires Brokerage

June 2 -- Zhongshan Public Utilities (000685) acquired the entire 100 percent equity of ChangAn Futures for 86.4 million yuan through the Beijing Equity Exchange, reports China Securities Journal, citing a company announcement.

Xi’an Aircraft Industry (Group) and Xi’an Aircraft Industry Aluminum previously held stakes of 75.17 percent and 24.83 percent in ChangAn Futures.

ChangAn Futures has a book value of 30.73 million yuan while the appraised value of ChangAn Futures is 42.28 million yuan.

The share price of Zhongshan Public Utilities was down 8.79 percent to trade at 17.75 yuan at 11:21 today.