Everbright Securities files for Hong Kong listing

The Shanghai-based securities firm is gearing up for a Hong Kong share sale, joining the race for capital among Chinese brokerage firms.

Shanghai-based Everbright Securities filed for a Hong Kong share sale with the city’s stock exchange operator late on Tuesday in the hope of opening up a new platform for future fundraising.

Based on Everbright Securities’s current market capitalisation of Rmb88 billion $13.7 billion, the broker could raise as much as $2.75 billion, assuming it sells 20% of its share capital, just as Huatai Securities and GF Securities did earlier this year.

Everbright Securities's share sale has been long-anticipated by bankers and investors alike.

“It has become clear that Everbright Securities and other brokerage houses that are not currently listed in Hong Kong will...

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