GF Securities IPO

[winston]

not vested

Broker opens book aiming for $28b IPO by Jennifer Li

The retail book for China's fourth largest brokerage, GF Securities, opens today for its H-share sale of up to HK$27.9 billion the biggest public offering in the SAR so far this year.

Each board lot of 200 shares will cost at least HK$3,807.99.

GF shares closed at 26.39 yuan (HK$32.98) in Shenzhen yesterday, down 1.46 percent.

Chairman Sun Shuming said the Hong Kong IPO is part of GF's overseas expansion. General manager Lin Zhihai said the firm has noticed mainland banks entering the securities business but it is not afraid of this trend, given its strength and professionalism in the industry.


Source: the Standard HK