Haitong Securities, China’s second-biggest brokerage in terms of total and net assets, has raised HK$13 billion $1.67 billion from its initial public offering after fixing the price below the mid-point of the range at HK$10.60 a share.
The final price is equal to the price guidance that went out the day before pricing, sources said. The IPO was postponed in December due to volatile market conditions and re-launched on an accelerated basis on Tuesday last week with the institutional and retail tranches running parallel to one another. The institutional portion of the deal closed a day early on Thursday and the final price was set after the...
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