Citic Securities Is Now Worth More Than Nomura Holdingsposted by MR WAVETHEORY at 9/07/2007 03:43:00 AM
The answer: Citic Securities Company Limited (Shanghai 600030.ss)
I just learned recently that Citic surpassed Nomura Holdings (the largest securities broker in Japan) in terms of market cap. Citic's market cap is $37 billion vs Nomura which is $35 billion. The firm trails only Goldman Sachs Group Inc. (NYSE GS), Morgan Stanley (NYSE MWD) and Merrill Lynch & Co. (NYSE MER) in market value.
Citic Securities just raised $3.3 billion. The stock has been on a tear lately rising from around 10 RMB to 80 RMB in a year after trading as high as 94 RMB last month. That's close to a 10x return!
Anyone think there's a bubble? Bueller? Anyone? Bueller? Anyone? Anyone? Please raise your hands.