November 24 -- CITICS Futures, a subsidiary of CITIC Securities (600030.SH), obtained approval from the China Securities Regulatory Commission for its acquisition of Zhejiang Xinhua Futures, reports stcn.com, citing a company filing.

After the acquisition, Xinhua Futures will be written off, and its futures business will be merged with that of CITICS Futures. It will be engaged in the commodities futures and financial futures businesses.

Shares of CITIC Securities rose 0.09 percent to trade at 11.20 yuan per share at 11:17 today.
 

Source:CapitalVue