Haitong Securities returns with HK IPO of up to $1.77 billion

Eleven cornerstones sign up for more than a third of Haitong Securities' IPO as the Shanghai-listed brokerage revives its long-awaited Hong Kong offering.

Haitong Securities returns with HK IPO of up to $1.77 billion
Photo: ImagineChina

Haitong Securities, China’s second-largest brokerage in terms of total assets and net assets, will kick off the bookbuilding for its revived Hong Kong initial public offering today, with a target to raise between HK$12.88 billion and HK$13.74 billion $1.66 billion to $1.77 billion. The deal will be done on an accelerated basis with the institutional and retail tranches running parallel to one another and the final price due to be set on Friday.

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