CITIC Securities, China's biggest listed brokerage, said on Thursday it has raised 25 billion yuan ($3.31 billion) in a heavily oversubscribed new share offer to finance expansion.

The 333.73 million new shares, offered to both institutional and retail investors on Monday, will be listed on the Shanghai bourse soon, but a final timetable has yet to be fixed, it said in a statement.

Analysts have said the offer, China's third-biggest domestic share sale so far this year, would be snapped up by investors who viewed the stock as a barometer of the red-hot share market.

The offer drew a total of 228 billion yuan ($30.21 billion) in subscription funds, the official Shanghai Securities News reported.

The company has said the new shares would represent about 10 percent of its expanded capital and were expected to be issued at 74.91 yuan each -- against the stock's last closing price of 94.27 yuan on Aug. 24 -- up 52 percent over the last month.

($1=7.546 Yuan)

China Investment