China Galaxy Securities is to go ahead with an A-share listing in Shanghai, less than a year after it raised HK$8.31 billion $1.1 billion through an initial public offering in Hong Kong.
The company, which is majority-owned by one of China's sovereign wealth funds, had initially planned a concurrent dual-tranche listing in mainland China and Hong Kong. However, with the A-share market shut from October 2011 to January 2014, the securities house chose to go for a Hong Kong listing first.
China Galaxy Securities said Saturday it will now revive plans to list in Shanghai as well.
The company will issue up...