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Broker China Securities plans up to US$1b Hong Kong IPO in 2016

[HONG KONG] Brokerage China Securities Co (CSC) plans to raise up to US$1 billion in an initial public offering in Hong Kong as soon as the end of 2016, IFR reported on Thursday, citing people close to the deal.

The company, partly owned by China's top brokerage CITIC Securities Co, has sent requests for banks to pitch for a role in the IPO, with presentations set for next week, added IFR, a Thomson Reuters publication.

CSC didn't immediately reply to a Reuters request for comment on the IPO plans.

REUTERS