Guotai Junan IPO entices global institutions

At last: a Chinese IPO in Hong Kong which institutions believe has upside potential.

Guotai Junan IPO entices global institutions

China's second most profitable brokerage company, Guotai Junan, allocated the institutional tranche of its Hong Kong initial public offering on Monday after attracting the kind of balanced order book syndicate bankers had almost give up on.

Bankers reported an oversubscription ratio of roughly three times for the institutional tranche, with participation from just over 100 accounts and a concentration ratio, which saw roughly 65% allocated to the top 10 investors.

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