CCSC secures cornerstones for $200m IPO

The Chinese regional securities house is set to test the Hong Kong IPO market for second-tier firms.

Central China Securities (CCSC) has secured $60 million worth of cornerstone investors for its $200 million Hong Kong IPO, which begins a roadshow on Monday

Two mainland investors – Mao Yuan Capital and Sunshine Empire – agreed to buy 30% of the deal as cornerstones, while the deal also received initial interest from anchor investors, said a source familiar with the situation

The company is planning to sell 598 million shares or 25% of the company’s total share capital at an indicative price range of HK$2 51 to HK$3 14 per share, representing a 2014 price-to-book ratio of 0 95 to 1 12 times, according to multiple sources

Central China Securities – the largest securities...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222