CSC Financial's HK IPO seeks as much as US$1.06b
Hong Kong
CSC Financial Co, the Beijing-based brokerage and investment bank, and an existing shareholder are seeking as much as US$1.06 billion in a Hong Kong initial public offering (IPO).
The company, formerly known as China Securities Finance Co, and the National Social Security Fund are offering a combined 1.13 billion shares at HK$6.36 to HK$7.26 apiece, according to terms for the deal obtained by Bloomberg on Monday. Cornerstone investors will buy about US$597 million of stock, representing 60 per cent of the base deal size, assuming the IPO prices at the midpoint of the marketed range, the terms show.
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