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China's Huatai plans to raise $2bn through London listing
Published by
Bloomberg

1m read

12 June 9.58am

Hargreaves Lansdown is not responsible for this article's content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest. Article originally published by Bloomberg.

Huatai Securities Co., one of China’s biggest brokerages by market value, plans to raise as much as $2.02 billion through a listing on the London Stock Exchange.

The firm plans to sell about 82 million global depositary receipts, Huatai told the London Stock Exchange Tuesday. The offer will close on June 14 with trading starting around June 20.

“If successfully listed, Huatai Securities would become the first China-listed company to list on the London Stock Exchange according to Shanghai-London Connect rules,” the Shanghai Stock Exchange said in a statement, referring to the cross-listing program agreed to by the two bourses last year. It added that it expects more Chinese firms to avail the connect and would welcome London-listed firms that want to go public in China.

JPMorgan Chase & Co., Huatai Financial Holdings (Hong Kong) Ltd., Morgan Stanley, HSBC Holdings Plc and Credit Suisse Group AG are bankers for the Huatai deal.


This article was written by Bloomberg News from Bloomberg and was legally licensed through the NewsCred publisher network. Please direct all licensing questions to legal@newscred.com.

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Article originally published by Bloomberg. Hargreaves Lansdown is not responsible for its content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

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