Investment banks and international investors are lining up to take part in Citic Securities’ Hong Kong share sale, which analysts say will allow China’s biggest brokerage to raise $3 billion, making the deal a promising candidate for Hong Kong’s largest IPO in 2011.
“The brokerage firm has received many proposals from different banks hoping to get involved in the deal,” said a source. “There were also many institutional investors that approached the firm as soon as its shares suspended trading in Shanghai last month.”
Citic Securities will submit its listing application to the Hong Kong stock exchange by the end of May or early June, and the...
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