Nanhua Futures Launches Up to HK$1.7 Billion Hong Kong IPO

MT Newswires Live12-12

Nanhua Futures (HKG:2691, SHA:603093) launched its Hong Kong initial public offering, seeking to raise up to HK$1.72 billion.

The futures brokerage is offering 107.7 million H-shares at a maximum price of HK$16 each, according to a Friday Hong Kong bourse filing.

The deal includes 10.8 million shares for Hong Kong investors and 96.9 million shares for international buyers, subject to reallocation and the overallotment option.

Pricing is expected by Dec. 18, with allocation results due Dec. 19, ahead of the firm's planned trading debut on Dec. 22.

Net proceeds are earmarked to strengthen the capital base of the group's overseas subsidiaries in Hong Kong, the U.K., the U.S., and Singapore.

Funds will support expansion in Asia and North America, compliance and membership needs in the U.K. and Europe, system upgrades, team expansion, and the establishment of a Malaysian subsidiary, with the remainder going to general working capital.

CITIC Securities (Hong Kong) is the sole sponsor.

CLSA serves as the sponsor-overall coordinator, overall coordinator, joint global coordinator, joint bookrunner, and joint lead manager, alongside HGNH International Securities, which also acts as the overall coordinator, joint global coordinator, joint bookrunner, and joint lead manager.

BOCI Asia, CMB International Capital, and ABCI Capital join as joint global coordinators and joint bookrunners. ABCI Securities, Zheshang International, Caitong International, Arta Asset Management, China Everbright Securities, AVICT Global Asset Management, Fortune Securities, Waton Securities, and Yellow River Securities participate as joint lead managers.

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