BEIJING, July 30, SinoCast -- CITIC Securities Co., Ltd. (SHSE: 600030), the biggest securities broker in China, is likely to complete cut holding in China Securities Co., Ltd.

The listed company on July 30, 2010 issued an announcement, saying that it has received a notice from an equity exchange showing that a 45% stake in China Securities is to be sold to the Beijing State-owned Capital Operation and Management Center at CNY 7.29 billion. A possible buyer for the 8% stake is Century Golden Resources Group at a price of CNY 1.296 billion.

An announcement issued by the Shanghai-listed broker middle June shows that the company decided to sell a 53% stake in China Securities in accordance with an assets evaluation result and via an auction, and planned to split the stake in 45% and 8% for sale at the Beijing Financial Assets Exchange on June 29, 2010 and July 26, 2010.

After the share sale, the Shanghai-listed broker still will maintain a 7% stake in China Securities.