China's Yushu Tech Begins IPO Subscription with 12 Brokers Identified as Shareholders

Huo Xing Finance reports that on August 10, Yushu Technology will simultaneously open offline and online subscription. According to a breakdown of Yushu Technology’s shareholders to the third tier, at least 12 securities firms have emerged. Notably, five of these securities firms have “gained access” to the hard tech sector by investing indirectly in Yushu Technology through private equity funds under CITIC Securities, acting as limited partners. As Yushu Technology’s sponsor, CITIC Securities stands to gain multiple returns under its “investment + investment banking” synergistic model. In addition to its early-stage equity investment, CITIC Securities is also required to make a follow-on investment in Yushu Technology’s IPO. According to the offering announcement released by Yushu Technology on August 7, China Securities Investment, as the follow-on investor, was allocated 808,900 shares. Based on calculations of this holding, CITIC Securities, through its alternative and private equity subsidiaries, collectively holds at least 4 million shares of Yushu Technology. (Securities China)