Huatai Securities looks set to follow in the footsteps of GF Securities and offer a large discount to its A-shares to ensure the success of its Hong Kong initial public offering, which began pre-marketing on Monday.
Recent equity offerings from Chinese brokerages have all been extremely well received in the primary market and traded up in the secondary. And early indications suggest that Huatai's forthcoming deal is also on course to attract strong demand from both retail and institutional investors.
However, investors remain keenly aware that a long pipeline of Chinese brokerages hope to raise billions of dollars to expand their equity capital with either new...
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