Zhong Chu Development & Trade Stock Co Ltd is set to invest 50 million yuan (US$6.41 million) for a 4.17% stake in Pacific Securities’, making it one of the ten largest stakeholders in the security firm ahead of a proposed initial public offering, China Business News reported.  Pacific Securities is looking to raise 1.2 billion yuan (US$153.85 million) in the IPO, which is scheduled to take place. Zhong Chu, a leading national logistic services provider, is aggressively looking for opportunities to tap investment opportunities arising from securities firms’ IPOs. It has previously acquired 2% of Shenzhen Gold Bull Co Ltd’s total stock capital and is looking to increase its stake as the company looks to raise further capital through a new share issue. The company is also looking to expand its logistics operations as the sector opens up to foreign competition. It currently has more than 20 logistic bases in key mainland cities, an annual cargo capacity of 40 million tons, and 3.01 billion yuan (US$385.9 million) in total assets. It is now involved in a joint venture to develop a 10 billion yuan (US$1.28 billion) logistics and processing project in Benhai region in northern China.