HONG KONG, Sept 12 Chinese broker firm Guotai
Junan Securities Co Ltd plans to raise at least $2
billion in a Hong Kong share offering, IFR reported on Monday
citing people close to the plan.
The Shanghai-listed company has sent requests to banks to
pitch for a role in the deal, which is expected to take place in
the first half of 2017, added IFR, a Thomson Reuters
The deal size is unclear and will depend on valuation at the
time of the sale and the number of shares to be sold, IFR
Guotai Junan did not immediately reply to a request for
comment when contacted by Reuters.
The brokerage went public in June 2015, raising $4.8 billion
in what is still the largest listing in the country since 2010.
The shares rose sharply after their debut as the brokerage
benefited from optimism regarding trading activity and IPOs in
mainland China. But they have since tumbled, trading nearly 8.7
percent below their initial public offering (IPO) price.
(Reporting by Fiona Lau; Writing by Elzio Barreto)