CITIC Securities' (HKG:6030) planned private placement will boost its internalization efforts and overseas growth, S&P Global Ratings said in a Tuesday release.

The securities company will raise 16 billion yuan from Citic Financial Holdings, its largest shareholder, which will account for 4.7% of total net assets as of end-March.

Citic Group's share in the company through Citic Financial Holdings will grow to 23.9% from 19.8% after the placement becomes effective.

With the boost in shareholding, the company looks to meet greater capital and fund flows and client demand, the rating agency said.

The company looks to channel the proceeds in improving the capitalization of Citic Securities International, its core offshore business arm, with a focus on its cross-border and overseas capital markets services, S&P said.

The rating agency expects the share of the company's overseas segments of its overall business and earnings to continue increasing while raising revenue diversification.