Citic Securities Company started bookbuilding for an IPO that could be worth as much as HK$15.13bn ($1.94bn) on Friday, setting the Hong Kong dollar price range after generating big demand from cornerstone investors last week.
The securities firm is selling 995.3m primary shares, and is pitching the deal at between HK$12.84 and HK$15.20 per share. That range offers investors all the way from a 13.41% discount to the Citics A-shares at the bottom, to a 2.5% premium at the top. (Citics 20-day volume
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