Dec. 1, 2011 (China Knowledge) - Haitong Securities Co Ltd<600837>, China's second-largest publicly traded brokerage firm, has set the indicative price range between HK$9.38 and HKK$10.58 for its initial public offering on the Hong Kong Stock Exchange.

The Shanghai-listed firm plans to issue 1.23 billion H-shares to raise between HK$11.53 billion and HK$13 billion in the IPO.

Haitong Securities, the parent company of Taifook Securities Group Ltd<0665>, said it has an overallotment option to issue 15% more shares and will list in Hong Kong on Dec. 15.

Around 35% of the proceeds from the IPO will be invested in overseas acquisitions, 20% in financing business expansion, 20% in new product development, 15% in private equity investment and 10% in capital replenishment.

JPMorgan Chase & Co, Haitong International Capital Ltd, Credit Suisse Group, Citigroup Inc, Deutsche Bank AG, HSBC Holdings PLC<0005>, UBS AG, Standard Chartered Securities, Nomura Holdings Inc will be responsible for the IPO.