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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

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1 JPMorgan 223,845.04 1008 8.25%
2 Citi 208,986.58 875 7.70%
3 Bank of America Merrill Lynch 172,744.49 728 6.37%
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5 HSBC 134,855.94 732 4.97%

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1 BNP Paribas 27,431.07 110 7.88%
2 Credit Agricole CIB 25,676.63 105 7.38%
3 JPMorgan 21,834.93 53 6.28%
4 Bank of America Merrill Lynch 21,382.31 54 6.15%
5 SG Corporate & Investment Banking 16,639.52 78 4.78%

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1 Morgan Stanley 7,483.87 37 9.66%
2 JPMorgan 7,363.27 46 9.51%
3 Goldman Sachs 6,842.44 35 8.84%
4 Citi 5,763.97 41 7.44%
5 UBS 4,691.07 23 6.06%