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Nomura plans joint venture in Shanghai FTZ

NOMURA Holdings Inc, Japan's largest broker, said today it will set up a joint venture in Shanghai's pilot free trade zone to provide financial information and advice to institutions within the zone.

Teaming up with three Shanghai-based companies, Nomura aims to enhance its presence in China by leveraging the joint venture to provide information on financial markets and products to financial institutions in the FTZ, the Japanese investment bank said in a statement.

The proposed joint venture, named Shanghai Nomura Lujiazui Investment Management Co Ltd, will have registered capital of 30 million yuan (US$4.8 million).

Nomura will hold a 60 percent stake in the venture with Shanghai Lujiazui Financial Holdings Co, a holding company of state-owned developer Shanghai Lujiazui Development (Group) Company Limited, getting a 20 percent stake.

Lujiazui International Trust Co and Shanghai Jiu You Equity Investment Fund Management LLP will each own a 10 percent stake in the venture.




 

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