China Merchants Securities to launch IPO this week

SHANGHAI Nov 3 (Reuters) - Medium-sized Chinese brokerage China Merchants Securities said on Tuesday it would launch a domestic A-share initial public offering on the Shanghai Stock Exchange this week, which, according to Reuters calculations, will be worth around 10 billion yuan ($1.5 billion).

China Merchants Securities, indictly controlled by port to property conglomerate China Merchants Group, will issue up to 360 million A shares denominated in yuan CNY=CFXS, or 10 percent of its expanded capital after the IPO, it said in a share issue prospectus published in the official Shanghai Securities News. ($1=6.83 Yuan) (Reporting by Lu Jianxin and Edmund Klamann; Editing by Jonathan Hopfner)