Having helped hundreds of Chinese companies to list, Citic Securities knows what it takes to lure investors to a deal. And China’s largest brokerage is making good use of that as it is now looking to list in Hong Kong. The firm kicked off the institutional bookbuilding for a Hong Kong IPO of between HK$12.8 billion and HK$15.1 billion $1.6 billion to $1.9 billion on Friday and is said to have received strong demand from institutional investors.
According to sources, the order books were fully covered by the end of the first day as the institutional tranche was two times subscribed. Orders mainly came from Hong Kong, London...
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