Citic Securities raises $1.7 billion

Retail investors order only 0.4% of the total offering, while the institutional book is three times covered.

Citic Securities raises $1.7 billion

Citic Securities, China’s largest publicly traded brokerage, has raised HK$13.2 billion $1.7 billion in the largest IPO from the financial sector in Asia-Pacific so far this year.

The deal is also the third biggest Hong Kong IPO this year, following Prada’s $2.4 billion offering and Shanghai Pharmaceutical’s $2 billion IPO, according to Dealogic. Or the fourth biggest if you count Glencore International’s $10 billion dual-listing, which was mostly listed in London.

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