Clifford Chance Advises on HTSC's $4.5B IPO
The deal is the latest in a flurry of equity offerings by Chinese brokerages this year.
May 29, 2015 at 01:38 AM
2 minute read
Clifford Chance and King & Wood Mallesons are advising Chinese brokerage HTSC on its $4.5 billion initial public offering in Hong Kong.
The company, better known as Huatai Securities Co., sold 1.4 billion shares at $3.20 each, according to The Wall Street Journal, citing people familiar with the matter. In its prospectus, Huatai said the bulk of the proceeds would be used to grow its securities-lending business.
The Huatai deal is one of a handful of equity offerings from Chinese brokerages this year, as they seek to capitalize on investor interest in a surging mainland stock market. The Shanghai Composite Index is up about 38 percent since January.
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