On June 12, China Galaxy Securities (06881.HK) rose 3.17% in regular trading, trading at HK$7.76/share, with turnover of HK$36.75 million.
On the news front, the company completed the issuance of its third tranche of perpetual subordinated bonds on June 11, raising RMB 5 billion at a coupon rate of 2.00% for the first five-year pricing cycle. The bonds achieved a subscription multiple of 1.732x, reflecting strong institutional demand. Proceeds will be used entirely to repay maturing corporate bond principal. Additionally, the company announced a total dividend of RMB 3.827 billion for fiscal year 2025.
The successful issuance at favorable terms demonstrates robust market confidence in the company's credit profile, with its bonds rated AAA. As of the latest disclosure, the company's net assets stood at RMB 147.796 billion with a consolidated debt-to-asset ratio of 76.65%. Investment banks maintain an Outperform consensus with an average target price of HK$11.2, implying significant upside from current levels.
Within the Investment Banking and Brokerage sector, peers also traded higher, with CMBC Capital up 3.08%, CITIC Securities up 2.34%, GTHT up 2.75%, CICC up 2.11%, and HTSC up 1.68%.
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