April 28, Guoyuan Securities Co., Ltd. (Guoyuan Securities, 000728.SZ), will acquire all shares in Minmetals Futures Co., Ltd. from China Minmetals Corporation for RMB 221.63 million, the securities firm said late Tuesday in a statement filed with the Shenzhen Stock Exchange.

Minmetals Futures is a wholly owned subsidiary of parent China Minmetals Corporation, one of the largest metals and minerals trading companies in the world. The futures company is one of 61 trading and clearing members at the China Financial Futures Exchange (CFFEX) and has six branches across the country.

Minmetals Future has a registered capital of RMB 100 million and total audited assets of RMB 155 million.

Guoyuan Securities intends to apply for an Introductory Broker (IB) license for the futures business after the deal is completed, the company said in the statement.

An IB is a futures broker who has a direct relationship with a client, but delegates floor operation and trade execution to another futures merchant.