December 21, 2014 / 11:29 PM / 3 years ago

China's Haitong Securities plans $3.86 bln Hong Kong private share placement

SHANGHAI, Dec 22 (Reuters) - Chinese stock brokerage Haitong Securities said it plans to raise HK$29.94 billion ($3.86 billion) in a private share placement in Hong Kong.

In a statement issued late on Sunday, the brokerage said it would issue 1.917 billion new Hong Kong-listed H-shares at HK$15.62 each to a number of institutional investors, including Dawn State Ltd, Vogel Holding Group Ltd and Amtd Special Holdings Ltd.

Proceeds would be used in margin trading in mainland China and other business expansion, the brokerage said in a filing to the Shanghai Stock Exchange, with any surplus to be used to supplement working capital.

US$1=HK$7.753 Reporting by Lu Jianxin and Engen Tham; Editing by Kenneth Maxwell

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