Apr. 16, 2012 (China Knowledge) - Haitong Securities Co Ltd<600837
>, China's second-largest brokerage firm by total assets, plans to launch its initial public offering in Hong Kong
with fundraising of up to US$1.77 billion, said a person familiar with the matter.
The person added that the company intends to issue 1.23 billion shares at an indicative price range of HK$10.48 to HK$11.18 apiece.
brokerage firm would start taking orders from institutional investors tomorrow and to list on the Hong Kong Stock Exchange
on Apr. 27.
Late last year, Haitong Securities was ready to sell nearly 1.23 billion shares at a price range between HK$9.38 and HK$10.58 to start the HK IPO, but eventually postponed the deal due market volatility.
The company is the second-largest brokerage firm in China by total assets after CITIC Securities Co<600030
><6030>, which started its IPO in Hong Kong
last October with fundraising of US$1.7 billion, sources reported.