China Merchants launches HK IPO

China's eighth largest brokerage by assets also becomes No8 out of the top 10 to attempt a Hong Kong Stock Exchange listing. The IPO is the largest by a brokerage this year.

China Merchants launches HK IPO

China Merchants Securities launched Hong Kong's third largest initial public offering of the year on Monday after opening books for an HK$10.28 billion to HK$11.390 billion $1.327 billion to $1.47 billion offering.

On completion, the 891.273 million primary share deal will also rank as the largest brokerage sector flotation of the year, surpassing Everbright Securities, which raised $1.15 billion in mid-August and Orient Securities, which raised $1.005 billion in late...

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