HONG KONG (Reuters) - Haitong Securities Co Ltd (600837.SS), China’s No.2 brokerage by assets, is in early April set to make its second attempt to list in Hong Kong, with a share offering of around $1.5 billion, IFR reported on Monday.
The securities firm, which pulled an up to $1.7 billion listing in December due to turmoil in global markets, is expected to seek approval for the latest transaction on Thursday from the Hong Kong Stock Exchange’s listing committee, said IFR, a Thomson Reuters publication.
It could start drumming up demand for the deal next week if it gets the bourse’s go-ahead, IFR added, saying that pricing is slated for late March or early April.
The company is finalizing the names of potential investors for the majority of the shares before they are launched, IFR added, citing three sources involved in the transaction.
Private equity firm Warburg Pincus LLC WP.UL and Japan’s Chuo Mitsui Trust & Banking Co, a unit of Sumitomo Mitsui Trust Holdings Inc (8309.T), had agreed to buy $222 million of shares as so-called cornerstone investors in the December deal that was scrapped.
Reporting by Fiona Lau; Writing by Elzio Barreto; Editing by Joseph Radford