CSC mops up $993m from year's last big Asia IPO

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By John Loh
06 Dec 2016

CSC Financial Co has priced Asia's last jumbo IPO of 2016, selling shares in its Hong Kong listing in the middle of expectations to raise HK$7.7bn ($992.5m).

The Chinese state-owned brokerage, formerly known as China Securities Finance Co, had pitched the trade at HK$6.36-HK$7.26 a share, translating into a 2016 price-to-book multiple of 1.12 times-1.25 times.

A well covered book helped it sell 1.13bn H-shares at HK$6.81 each, worth HK$7.7bn in the base deal. Some 1.08bn ...

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