China International Capital Co

China International Capital Corp, CICC for short, was created by Morgan Stanley, China Construction Bank, China National Investment and Guaranty, and the Mingly Corporation. It is the first joint venture investment bank in China. At the time of its founding in 1995, China Construction Bank and Morgan Stanley were the primary shareholders. CICC created a Hong Kong Subsidiary in 1997. The subsidiary was used to underwrite new IPOs, with China Mobile being the first. CICC went public on the Hong Kong Stock Exchange in 2015. The bank was able to raise roughly $800 million as a result of the IPO. 611 million shares were made available initially, valued between $1.65 and $1.85. The CICC stock symbol is 3908.HK. In 2007, CICC became one of the first investment banks to offer wealth management services in China. It also became the first bank to receive approval to manage private equity funds from the China Securities Regulatory Commission. CICC purchased China Investment Securities in 2016. One year later, the bank acquired US-based KraneShares. Learn more about 3908.HK stock and how you can benefit by adding it to your trading portfolio. Go to your eToro trading account to get started.