China Securities launched a HK$8.2 billion $1.06 billion initial public offering on Monday, setting aggressive terms in the hope the imminent launch of a stock trading link between Hong Kong and Shenzhen will give it momentum.
After a week of premarketing, the Reg S144A deal launched on the first trading day after the China Securities Regulatory Commission's announcement late on Friday that the stock connect would commence on December 5.
Chinese brokerage houses are seen as the biggest winners from a tie-up between the two exchanges, which have 1,300 listed stocks between them. They are anticipating a big increase in demand for margin...
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