The onshore venture has applied for a major shareholding change involving more than a 5% stake, according to a Dec 25 filing to the China Securities Regulatory Commission, which didn’t give additional details.
BEIJING: JPMorgan Chase & Co is seeking 100% ownership of its futures joint venture in China, according to a person with knowledge of the matter, making it the first global bank to take advantage of the opening of the nation’s futures market, where transactions topped US$30 trillion last year.
The US bank planned to raise its current 49% stake in J.P.Morgan Futures Co, said the person, asking not to be identified because the matter is private. The onshore venture has applied for a major shareholding change involving more than a 5% stake, according to a Dec 25 filing to the China Securities Regulatory Commission, which didn’t give additional details.
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