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 firm...
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