<article><a style="color: #000080;" href="http://www.dealstreetasia.com/?s=everbright">Everbright Securities Co.</a> set the terms for a first-time share sale in Hong Kong that could raise as much as $1.2 billion, people familiar with the matter said.</article>

<a style="color: #000080;" href="http://www.dealstreetasia.com/?s=everbright">Everbright Securities Co.</a> set the terms for a first-time share sale in Hong Kong that could raise as much as $1.2 billion, people familiar with the matter said.
The Chinese brokerage plans to offer 680 million shares at HK$11.80 to HK$13.26 apiece, according to the people, who asked not to be identified because the information is private. The price range represents a 32 percent to 40 percent discount to Everbright Securities’s Wednesday closing price in Shanghai.
The offering would be the second Chinese brokerage to list in Hong Kong this year, following the $1.1 billion offering from Orient Securities Co. in June, according to data compiled by Bloomberg. Hong Kong first-time share sales have raised $8.5 billion this year, the slowest pace since 2013, the data show.
Everbright Securities aims to start taking investor orders on Aug. 8 and price the offering toward the end of next week, the people said.
Orient Securities shares closed Wednesday in Hong Kong at a 57 percent discount to the company’s yuan-denominated stock. The Hong Kong-traded shares of <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=citic">Citic </a>Securities Co., the nation’s largest brokerage, are valued at a 13 percent discount, while Haitong Securities Co. trades in the city at a 29 percent discount to its shares in Shanghai.
A Hong Kong-based external spokeswoman for Everbright Securities declined to comment. IFR reported earlier Wednesday that Everbright Securities had set the offering terms, citing unidentified people.
China Everbright Capital Ltd.,<a style="color: #000080;" href="http://www.dealstreetasia.com/?s=ubs"> UBS Group AG</a> and<a style="color: #000080;" href="http://www.dealstreetasia.com/?s=bank+of+america"> Bank of America Corp.</a> are joint sponsors of the listing, according to a July 29 filing to the Hong Kong stock exchange.
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Bloomberg

Everbright Securities Co. set the terms for a first-time share sale in Hong Kong that could raise as much as $1.2 billion

Everbright Securities said to set $1.2b share sale terms

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Everbright Securities said to set $1.2b share sale terms

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