June 13, 2019 / 12:35 PM / 2 months ago

Books on Huatai Securities' GDR listing in London oversubscribed - bookrunner

(Reuters) - Books on Huatai Securities’ proposed listing of its global depositary receipts (GDRs) in London were oversubscribed, one of the bookrunners handling the sale said on Thursday.

The bookrunner said the transaction would comprise 82.5 million GDRs in total, including a greenshoe option to sell an extra allotment to investors.

Huatai Securities on Tuesday set a price range of $20 to $24.50 per global depositary receipt to raise $1.2 billion, in a deal set to value the brokerage at up to $1.8 billion (1.42 billion pounds).

Reporting by Justin George Varghese in Bengaluru; Editing by Elaine Hardcastle

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