December 2, 2016 / 7:05 AM / a year ago

CITIC-backed CSC Fin to price $993 mln IPO in middle of expectations -IFR

HONG KONG, Dec 2 (Reuters) - CSC Financial Co Ltd, the busiest IPO underwriter in China the past three years, is set to price its Hong Kong initial public offering near the middle of expectations, IFR reported on Friday, citing people close to the deal.

The company, partly owned by China’s top brokerage CITIC Securities Co Ltd , has sent a guidance to investors in the IPO that the shares will likely be priced at or around HK$6.81 each, the middle of its HK$6.36 to HK$7.26 indicative range, added IFR, a Thomson Reuters publication.

CSC Financial is offering 1.13 billion shares in the IPO, putting the deal at HK$7.7 billion ($993 million).

The company didn’t immediately reply to a Reuters request for comment on the IPO pricing. ($1 = 7.7555 Hong Kong dollars) (Reporting by Fiona Lau of IFR; Writing by Elzio Barreto; Editing by Muralikumar Anantharaman)

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