Huatai Securities becomes 22.86% shareholder of Chery Holding
Huatai Asset Management became the new shareholder of Chery Holding. Meanwhile, the registered capital of Chery Holding has increased to 4.2784 billion from 3.3 billion, according to local media.
Founded on October 16, 2014, Huatai Asset Management was a wholly-owned subsidiary of Huatai Securities, a leading integrated securities group in China. It had acquired a 22.86% stake in Chery Holding on March 13 with an investment of around RMB 978 million, becoming the third-biggest shareholder of Chery Auto's parent company. 
Senior executives from Huatai Securities refused to take interview and make any comment on the purpose of the company’s investment in Chery Holding. 
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