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GC Asia
Huatai prices first London-Shanghai Stock Connect sale
Huatai Securities, the Chinese brokerage, has set a price for the sale of global depositary receipts on the London Stock Exchange, the first deal under the new London-Shanghai Connect programme.
Huatai, JP Morgan and Morgan Stanley are global co-ordinators on the transaction, and Credit Suisse is a bookrunner.
At a final price of $20.5 per global deposit receipt (GDR), the base deal was sized at $1.54bn, and if a 15% greenshoe is exercised the transaction will grow to $1.69bn.
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