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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.

  • By Sam Kerr
  • 14 Jun 2019

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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Bond Comments

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 294,431.58 1323 8.57%
2 Citi 267,175.53 1124 7.78%
3 Bank of America Merrill Lynch 229,132.49 937 6.67%
4 Barclays 211,780.31 853 6.16%
5 Goldman Sachs 169,480.13 704 4.93%

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1 BNP Paribas 34,500.40 147 7.53%
2 Credit Agricole CIB 33,521.86 144 7.31%
3 JPMorgan 25,404.62 68 5.54%
4 Bank of America Merrill Lynch 23,368.44 65 5.10%
5 SG Corporate & Investment Banking 22,509.71 104 4.91%

Bookrunners of all EMEA ECM Issuance

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1 JPMorgan 9,157.42 55 10.33%
2 Morgan Stanley 8,122.33 40 9.16%
3 Goldman Sachs 7,432.91 40 8.38%
4 Citi 6,426.54 47 7.25%
5 UBS 4,913.18 26 5.54%