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Shanghai-listed Huatai to raise up to $4.5 bln in HK share sale-IFR
May 15, 2015 / 9:13 AM / 3 years ago

Shanghai-listed Huatai to raise up to $4.5 bln in HK share sale-IFR

May 15 (Reuters) - Huatai Securities Co Ltd, China’s largest stock brokerage, plans to raise up to $4.5 billion in a Hong Kong share offering, tapping equity markets to help grow its margin finance and lending businesses, IFR reported on Friday, citing sources familiar with the plans.

The Shanghai-listed company will offer 1.4 billion new shares in an indicative price range of HK$20.68 to HK$24.80 per share, valuing the deal at up to HK$34.7 billion ($4.48 billion), added IFR, a Thomson Reuters publication.

The state-owned brokerage hired its Huatai Financial Holdings (Hong Kong) Ltd unit, JPMorgan and UBS as sponsors for the offering, according to a securities filing. ($1 = 7.7514 Hong Kong dollars) (Reporting by Fiona Lau of IFR; Writing by Elzio Barreto; Editing by Prateek Chatterjee)

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