GF Securities starts premarketing $3b HK IPO

While success could clear the way for other Chinese brokers, GF Securities needs to get the discount to its A shares right.

GF Securities starts premarketing $3b HK IPO

GF Securities has started premarketing its Hong Kong listing to raise $2 billion to $3 billion, the largest initial public offering in Asia so far this year, assuming it comes to fruition. One source close to the deal suggests it could even reach $4 billion.

The Guangzhou-based broker plans to sell up to 1.7 billion H shares or 20% of its enlarged share capital. The company plans to start roadshows on March 23,...

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