Broker raises US$3.6b
Source: Agencies |
April 3, 2015, Friday
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Print Edition
Print Edition
GF Securities, China’s fourth-largest brokerage, has raised HK$27.9 billion (US$3.6 billion) in an initial public offering in Hong Kong after it set the offering price at the upper end of a proposed range amid robust demand.
The brokerage said yesterday that it would sell 1.48 billion shares at HK$18.85 per share, the high end of a price range between HK$15.65 and HK$18.85. The price is a 47 percent discount to GF Securties’ Shenzhen-listed A shares, which closed 1.2 percent down at 28.30 yuan (US$4.57) yesterday.
The shares will start trading in Hong Kong on April 10.
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