Broker Orient Securities is looking to raise Rmb10 billion $1.6 billion through a Shanghai listing, China's biggest A-share initial public offering in roughly three years.
The company is among 24 who received clearance on Monday from the China Securities Regulatory Commission to begin work on potential listings.
Shanghai-based Orient Securities is selling up to 1 billion new shares or 18.9% of its share capital. It will start receiving orders from investors on March 5 and plans to set its IPO price on March 9, according to a prospectus released yesterday.
Everbright Securities is sole sponsor on the IPO, which promises to be...