Huatai prices first London-Shanghai Stock Connect sale

By Sam Kerr
14 Jun 2019

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.

The banks ...

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