China International Capital Corporation HKSE IPO

Overview:

• China International Capital Corporation (CICC) has undertaken an IPO on the HKSE.
• The net proceeds from the global offering to be received by CICC are estimated to be approximately $708 million prior to any exercise of the over-allotment option.
• The oldest Chinese investment bank, CICC, was established in 1995 as a joint venture between China Construction Bank and Morgan Stanley. 
• The firm's debut coincided with an upturn in shares of mainland-based brokers following Beijing’s lift of a four-month halt of IPO, which is considered to have given the firm's IPO a boost.

Hanna Rae Choi - Researcher