Strong cornerstone support for Citic Securities' H-share IPO

Investors are attracted by the firm's big name and reasonable offer price. Sources say the institutional tranche of the $1.9 billion deal was two times covered on day one.
<div style="text-align:left;">
Citic Securities braves the challenging market environment in its quest to list in Hong Kong, but ensures half the deal is covered by cornerstones at launch (AFP) </div>
<div style="text-align:left;"> Citic Securities braves the challenging market environment in its quest to list in Hong Kong, but ensures half the deal is covered by cornerstones at launch (AFP) </div>

Having helped hundreds of Chinese companies to list, Citic Securities knows what it takes to lure investors to a deal. And China’s largest brokerage is making good use of that as it is now looking to list in Hong Kong. The firm kicked off the institutional bookbuilding for a Hong Kong IPO of between HK$12.8 billion and HK$15.1 billion ($1.6 billion to $1.9 billion) on Friday and is said to have received strong demand from institutional investors.

¬ Haymarket Media Limited. All rights reserved.

Sign In to Your Account To Access Exclusive FinanceAsia Content!

Please sign in to your subscription to unlock full access to our premium FA resources.

Free Registration & 7-Day Trial
Register now to enjoy a 7-day free trial - no registration fees required. Click the link to get started.

Note: This free trial is a one-time offer.

Questions?
If you have any enquiries or would like a quote for a team or company licence, please contact us at [email protected]. Our subscription team will be happy to assist you.

Share our publication on social media
Share our publication on social media