China Galaxy to raise up to $1.3 bln in HK IPO -IFR
HONG KONG May 5 (Reuters) - China Galaxy Securities plans to raise up to $1.3 billion in a Hong Kong initial public offering, IFR reported on Sunday.
China Galaxy Securities, whose larger rivals include Citic Securities and Haitong Securities , is offering about 1.5 billion shares at an indicative range of HK$4.99 to HK$6.77 each, added IFR, a Thomson Reuters publication. The range is equivalent to a price-to-book ratio of 1.19 to 1.49 times.
China Galaxy International, Goldman Sachs and JPMorgan are acting as sponsors of the deal, with a group of 13 other banks also helping to arrange it. The number of banks on the IPO puts it near the record 17 hired by PICC for its listing last year.
- Tesla prevails in top Massachusetts court over direct sales
- U.S. to Assad: Beware of interfering with U.S. air power in Syria
- Odile batters Mexico's Baja resorts, knocks out power to most area
- Iran supreme leader spurns U.S. overture to fight Islamic State |
- Quake strikes northeast of Tokyo, no reports of serious damage