HONG KONG, April 11 Brokerage China Galaxy
Securities has received approval from the Hong Kong stock
exchange for its initial public offering of up to $1.5 billion,
IFR reported, citing sources with direct knowledge of the plans.
The company, the country's seventh-largest brokerage, has no
plans to start gauging investor demand for the IPO right away
and plans to start pre-marketing the deal on April 22, added
IFR, a Thomson Reuters publication.
China Galaxy added 13 banks last month to the group helping
arrange the planned IPO, putting the total number of banks in
the deal at 16, near the record 17 hired by People's Insurance
Company (Group) of China for its $3.5 billion IPO in