China Merchants Securities prices IPO

China's eighth largest brokerage by assets achieves mid-range price in the face of challenging markets for brokerage stocks.

China Merchants Securities priced Hong Kong's third largest initial public offering of the year on Friday, raising HK$10.7 billion ($1.38 billion) from a deal, which priced just below the mid-point of its indicative range at HK$12 per share.

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