Reuters: Private Equity: UPDATE 1-Haitong sends price guide on HK offer near bottom-IFR

Reuters: Private Equity Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

UPDATE 1-Haitong sends price guide on HK offer near bottom-IFR Apr 19th 2012, 05:51 Thu Apr 19, 2012 1:51am EDT * Haitong to close institutional book one day ahead of schedule * Company sends price guidance of around HK$10.6/share-IFR * Haitong to price up to $1.77 bln HK offer on Friday HONG KONG, April 19 (Reuters) - Haitong Securities Co Ltd , China's second-biggest brokerage by assets, could price its up to $1.77 billion Hong Kong share offering near the bottom of an indicative range, Thomson Reuters publication IFR reported. The company has sent a price guidance of around HK$10.60 ($1.37) per share, compared with the indicative range of HK$10.48 to HK$11.18, IFR said on Thursday, citing two sources who were not authorized to speak publicly on the matter. Haitong will also close the order book for institutional investors on the offering on Thursday, one day ahead of schedule, according to two sources with direct knowledge of the plans. The orders should give some relief to Haitong and the team of banks underwriting the deal, the biggest public offering of new shares in the Asia-Pacific region this year, after the brokerage pulled a similar-sized offer in December because of global market volatility. Haitong is selling up to 1.229 billion new shares, putting the total deal size at the top of the range at HK$13.74 billion ($1.77 billion). The offer is slated to be priced on Friday, with shares beginning to trade in Hong Kong on April 27. Citigroup Inc, Credit Suisse AG, Deutsche Bank, JPMorgan, UBS and Haitong's own Haitong International are acting as joint global coordinators on the offering. BoCom International, HSBC Holdings Plc , ICBC International, Nomura and Standard Chartered Plc were also hired as joint bookrunners. Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions