Contrary to information provided by some bankers involved in the deal last week, investor education for China Galaxy Securities’ initial public offering in Hong Kong will start today.
Sources said during the weekend that all the necessary approvals are in place and, while the exact terms have yet to be determined, the company and its bankers are now ready to seek formal feedback from investors.
Galaxy Securities is China’s leading brokerage firm in terms of client deposits and the number of outlets, but is well behind its two Hong Kong-listed peers when it comes to equity and bond underwriting, proprietary trading and asset management. It is seeking...
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