CITIC Pacific has completed its acquisition of 100% of the share capital of CITIC Limited after receiving all necessary regulatory approvals. It will be renamed "CITIC Limited 中國中信股份有限公司" when the name change process is completed, which is expected by August 27 2014. Trading under the new name on the Hong Kong Stock Exchange is expected to begin on September 1 2014. The new CITIC Limited successfully attracted 27 strategic investors from China and overseas, representing an aggregate amount of HK$53.27 billion. Public shareholding in the company is approximately 22%.

Listed in Hong Kong as a constituent stock of the Hang Seng Index, CITIC Limited is China's largest conglomerate with businesses in financial services, real estate and infrastructure, engineering contracting, resources and energy, manufacturing as well as other sectors that are well matched to China's economic growth and development.

Chang Zhenming, chairman of CITIC Limited, said: "As a unique China-focused conglomerate, we are now better positioned financially and strategically. CITIC Limited is the ideal vehicle through which to invest in China, offering investors access to growth opportunities and businesses they could not otherwise tap. Our mandate to generate returns for all of our shareholders is stronger than ever. I am grateful to our shareholders for their overwhelming support of our transformation."