China Securities targets punchy IPO valuation

The country’s 14th largest brokerage by net asset value hopes to achieve a valuation premium to its peers. The Shenzhen-HK stock connect scheme will help.

China Securities targets punchy IPO valuation

China Securities launched a HK$8.2 billion $1.06 billion initial public offering on Monday, setting  aggressive terms in the hope the imminent launch of a stock trading link between Hong Kong and Shenzhen will give it momentum.

After a week of premarketing, the Reg S144A deal launched on the first trading day after the China Securities Regulatory Commission's announcement late on Friday that the stock connect would commence on December 5.

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