Guotai Junan: Hong Kong IPO priced to perform

Order books already covered for Hong Kong's largest flotation since Postal Savings Bank came to market in September 2016.

Guotai Junan: Hong Kong IPO priced to perform

China's second most profitable brokerage company launched its Hong Kong initial public offering on Monday at a valuation, which should ensure secondary market performance if markets hold steady until the deal is priced on Friday.

Guotai Junan's IPO breaks with recent tradition and has been structured as a fixed-price offering at HK$15.84 per share, to raise HK$16.47 billion $2.12 billion pre-greenshoe. This makes the valuation work relatively easy for investors, given the group...

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