Haitong Securities, China's third-largest listed brokerage, has completed a multibillion-dollar private share placement, priced at more than 35 yuan per share, its president Li Mingshan said on Tuesday.

The company, which secured a stock listing this year by merging with Shanghai Urban Agro-Business Co in a reverse takeover, said in July that it would issue a maximum of 1 billion additional local-currency A shares.

Li did not reveal the total number of shares his company had placed.

The shares would be sold to no more than 10 institutional investors, including brokerages, mutual funds and insurers, in a private placement, the company had said.

Li also told Reuters that the company had applied to the China Securities Regulatory Commission to invest clients' money in overseas financial markets under the country's Qualified Domestic Institutional Investor scheme.

(Reporting by George Chen; Writing by Charlie Zhu; Editing by Edmund Klamann)

China Investment