Date
22 July 2017
Orient Securities is among at least four big mainland securities firms looking to raise money in Hong Kong this year.
Orient Securities is among at least four big mainland securities firms looking to raise money in Hong Kong this year.

Orient Securities said to seek up to US$1.15 bln in HK IPO

Orient Securities Co., a joint-venture partner of Citigroup in China, is said to be seeking up to US$1.15 billion in a Hong Kong initial public offering.

The Shanghai-based firm, which submitted an application to the Hong Kong bourse in April, will launch the deal on Monday, according to IFR, a Thomson Reuters publication.

The brokerage will offer shares in an indicative range of HK$7.85 to HK$9.35, the report said, citing people close to the deal.

Citigroup, Goldman Sachs and Nomura are arranging the deal.

Orient Securities, which has an investment banking joint-venture with a Citigroup unit in China, is one of at least four big mainland securities firms looking to raise money in Hong Kong this year.

Everbright Securities, China Merchants Securities and China Securities are among the others lining up for cash.  

Everbright is said be planning to raise US$1 billion in July, while China Merchants could seek US$2 billion in September and CSC may eye US$1 billion later in the year, according to IFR. 

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CG/RC

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