Haitong Securities (6837.HKG, 600837.SHA) plans to sell 1.92 billion additional Hong Kong-listed shares at HK$15.62 each in a private placement, Bloomberg reported, citing a statement to the Shanghai stock exchange. The company, China’s second-biggest brokerage by market value, aims to raise HK$29.9 billion (US$3.9 billion) through the placement, which comes as a stock-market boom in China boosts the country’s brokerages. The company will use about 60% of the proceeds to develop its short-selling and margin-trading business and about 10% to replenish working capital, according to the statement.
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