Guo­tai ‘plans IPO in Hong Kong’

China Daily (USA) - - BUSINESS -

Chi­nese bro­ker firm Guo­tai Ju­nan Se­cu­ri­ties Co Ltd plans to raise at least $2 bil­lion in aHongKong share of­fer­ing, IFR re­ported onMon­day cit­ing peo­ple close to the plan. The Shang­hai-listed com­pany has sent re­quests to banks to pitch for a role in the deal, which is ex­pected to take place in the first half of 2017, added IFR, a Thom­son Reuters pub­li­ca­tion. The deal size is un­clear and will de­pend on val­u­a­tion at the time of the sale and the num­ber of shares to be sold, IFR re­ported. The bro­ker­age went pub­lic in June 2015, rais­ing $4.8 bil­lion in what is still the big­gest list­ing in the coun­try since 2010.

Chi­nese liquor pro­ducer Kwe­i­chow Moutai Group dis­plays prod­ucts de­signed for fe­male con­sumers at an in­dus­try expo held in Guiyang, cap­i­tal of Guizhou province, which con­cluded over the week­end.

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