Capital Increased by JD Capital to First PE Securities Trader JZ Securities
After setting up China’s first PE public offering fund, JD Capital gained a securities trader license by increasing capital to JZ Securities, the first PE securities company in China.
JD Capital increased capital to Teemrise Securities
JD Capital announced at the noon of October 20th that it has entered into Capital Increase Agreement with Teemrise Securities and would increase 360 million yuan to Teemrise Securities to take 51% of its shares.
Meanwhile, Teemrise Securities was renamed JZ Securities Co., Ltd. (JZ Securities).
After the capital increase, JD Capital, Guangzhou Securities (originally a major shareholder) and other three shareholders would take shares of 51%, 39% and 10% respectively.
JD Capital supports Jiuzhou Securities to apply for overall securities licenses
“Securities industry has a huge development space with the rapid development of Chinese capital market. JD Capital’s current assets management business is complementary to securities business,” the relevant person of JD Capital said. JD Capital would break through the bottleneck during development, speed up business transform and leap-forward development and contribute to the Qinghai’s finance industry and economic development based on its resources and platforms.
After the capital increase, JZ Securities’ business scope would range from securities brokerage, securities investment consultancy, fund consignment, securities trading and operation and other related financial consultancy businesses. It’s said that JZ Securities would apply for licenses of securities underwriting and recommendation, assets management, financing and securities loan after the completion of capital increase.
JD Capital’s net assets are about 10 billion yuan currently. With the exit of some projects under its management, it would invest more in JZ Securities. In future, JD Capital would increase much capital based on the requirements of business development and supervision of JZ Securities.
JD Capital said it’s striving to help JZ Securities develop into China’s leading securities agancy within 5 years based on its resources and financial support in capital and technology.
JZ Securities to focus on innovative development
JD Capital said in an interview that JZ Securities would recruit more talents to join them. Besides its traditional business, it would develop securities breakage business, financing and securities loan business, securities underwriting business, etc.
“JZ Securities will break through traditional organizational structure and design suitable one based on customer demands, and reform its team incentive method in accordance with regulations and requirements of venture management,” a head from JD Capital said.
JZ Securities is the first securities company controlled by a PE firm, which is expected to make innovations among the securities industry. Through the foundation of JZ Securities and JT Assets Management, JD Capital’s target to become a large-sized assets management group is more and more clear.