Shanghai-listed Industrial Securities pulled its stocks from trading Thursday as the company works on a plan to raise funds through a private placement sale. The company announced that the trading of its shares will resume on August 21.
Shares of Industrial Securities have declined for the past seven trading days and 1.51 percent to close at 9.11 yuan ($1.43) per share Wednesday. So far, securities stocks have taken huge losses at the mainland markets this week, with Citic Securities, Haitong Securities and Huatai Securities all seeing their shares plummet.
In June, Hongyuan Securities also raised 6.94 billion yuan through issuing new shares.
