China Securities to launch up to $1.1 billion Hong Kong IPO

Brokerage China Securities Finance Co Ltd is set to launch on Monday an up to $1.1 billion Hong Kong initial public offering, raising funds to expand its wealth management, securities trading and overseas business, IFR reported on Thursday, citing people close to the deal.
The company, partly owned by China's top brokerage CITIC Securities Co Ltd, will offer 1.13 billion shares in an indicative range of HK$6.36 to HK$7.26, added IFR, a Thomson Reuters publication. That would put the IPO at up to HK$8.2 billion ($1.06 billion).
China Securities Finance could not be immediately reached for comment on the IPO plans.