Huatai Securities, China's largest stock brokerage by trading volume, has raised HK$34.7 billion $4.5 billion on the Hong Kong Stock Exchange, pricing the listing at the top of the price range.
The broker, also known by the acronym HTSC, priced its 1.4 billion new H-shares at HK$24.8 per unit, qualifying the deal as the largest flotation in the Asia Pacific region this year.
Recent equity offerings by Chinese brokerages have been extremely well received by the market, with strong post-listing performance affirming the sector's allure for investors.
Shares of GF Securities, one of Huatai's rivals on the mainland, have surged...
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