Huatai covers London GDR listing at $1.2bn

LSE PA 230 150
By Jonathan Breen
12 Jun 2019

Huatai Securities has already covered the minimum target for its global depository receipts (GDRs) IPO on the London Stock Exchange, according to a source close to the deal.

The Chinese brokerage is offering 75m GDRs at $20 to $24.50, giving it potential proceeds of $1.5bn to $1.8bn. The deal also has a 7.5m GDR greenshoe.

But the range is indicative and not fixed. So the issuer has set a minimum fundraising target of $1.2bn. The ...

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