Caixin
Sep 27, 2016 12:05 PM
FINANCE

China Merchants Securities' Hong Kong IPO to Raise $1.5 Billion

(Hong Kong) – China Merchants Securities Co., the investment banking and brokerage arm of state-owned conglomerate China Merchants Group, plans to raise $1.47 billion in a share issue in Hong Kong, while markets sputter due to a strong risk-averse sentiment.

CMC said on Sept. 26 that it will issue 891 million H-shares at an indicative price range between HK$11.54 to HK$12.78. Five percent of the shares will be reserved for retail investors. Trading of CMC shares in Hong Kong will begin on Oct. 7.

You've accessed an article available only to subscribers
VIEW OPTIONS
Share this article
Open WeChat and scan the QR code