Press Release

JPMFC acted as lead underwriter of RMB 800 million subordinated bond for First Capital Securities Co. Ltd

On 15th Nov., 2013, J.P. Morgan First Capital (“JPMFC”), lead underwriter, launched RMB 800 million subordinated bond offering for First Capital Securities Co. Ltd . The offering was successfully completed on 15th Nov., and the bond has been listed on Shenzhen Stock Exchange since 5th Dec., 2013.

The securities firm’s subordinated bond was newly introduced and most of the investors were not in favor of this bond because of its poor liquidity and subordinated property. Such a difficult market condition also put much pressure on the offering. JPMFC promptly opened dialogue with potential investors in advance and effectively worked out roadshow. Thanks to the great effort from the management and colleagues, the offering is oversubscribed and realizes a low interest rate, which has demonstrated great execution power and coordination ability of our company.