China Everbright Securities $1 billion HKSE IPO

Overview:

• China Everbright Securities has launched its $1.03 billion IPO on the Hong Kong Stock Exchange (HKSE).
• The Shanghai Brokerage House is one of the largest securities brokerage by assets in China. It is owned by the state-owned and Shanghai-listed financial conglomerate, China Everbright Group.
• The offer price is set at HK$12.68 per H-Share.
• The global offering comprises a total of 680 million H-shares, subject to the over-allotment option.
• The largest stakes in Everbright Securities will go to Hengjian International Investment, China Shipbuilding Capital and CSEC Capital.
• This is the second largest IPO in 2016 following Orient Securities' HK$6.8 billion IPO in July 2016.
• Clifford Chance (Tim Wang, Virginia Lee, Jean Thio, Philip Chan, Lorna Lu, Stanley Tan, Mia Zhang, Kevin Ng) advised the underwriters.
• Latham & Watkins (Cathy Yeung, Eugene Lee, William Woo, Wei Wei, Alice Tsui, Bryan Flannery, Gerorge Zheng, Bonnie Tse, Cloria Chen, and Yu Sun) advised China Everbright Securities. 
• Everbright Securities, UBS, and the Bank of America Merrill Lynch are the underwriters.

 Wai Yee Tsang - Journalist - Asia-Pacific