Haitong Securities postpones Hong Kong IPO

Haitong Securities, which is already listed in Shanghai, yesterday postponed its initial public offering in Hong Kong due to volatile market conditions, sources said. Haitong, China’s third largest brokerage in terms of revenues, had been seeking to raise between HK$11.53 billion and HK$13 billion ($1.48 billion to $1.67 billion) from the listing.