Guosen Securities gets approval for CNY 20bn bond issuance

Guosen Securities (SZSE:002736) announced that it has received approval from the China Securities Regulatory Commission (CSRC) to publicly issue perpetual subordinated bonds to professional investors. The total face value of the bonds is not to exceed CNY 20 billion. According to the announcement, the approval is valid for 24 months from the date of registration, during which Guosen Securities can issue the bonds in multiple tranches. The securities firm is required to strictly adhere to the prospectus submitted to the Shenzhen Stock Exchange. Guosen Securities will manage the issuance according to relevant laws, regulations, and shareholder authorization, fulfilling all disclosure obligations.