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CITIC-backed broker CSC Financial set to open flat in Hong Kong debut
December 9, 2016 / 1:31 AM / 10 months ago

CITIC-backed broker CSC Financial set to open flat in Hong Kong debut

HONG KONG, Dec 9 (Reuters) - Shares of CSC Financial Co Ltd were set to open flat in their Hong Kong trading debut on Friday, after the busiest IPO underwriter in China for the past three years raised $993 million in an initial public offering.

CSC Financial, partly owned by China’s top brokerage CITIC Securities Co Ltd , was indicated to open at HK$6.81, in line with its IPO price, while the benchmark Hang Seng index was poised to drop 0.4 percent.

The IPO consisted of 1.13 billion shares, including 1.08 billion new shares and 53.8 million shares sold on behalf of China’s National Council for Social Security Fund (NSSF), according to the offering prospectus. The shares were marketed in a HK$6.36 to HK$7.26 indicative range each. (Reporting by Elzio Barreto; Editing by Richard Pullin)

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