China Galaxy Securities Co may seek as much as $1.9 billion in an initial public offering in Hong Kong and Shanghai, almost doubling an earlier target, after Chinese stocks rallied from a four-year low, two insiders have said.
The Beijing-based brokerage has submitted applications to regulators in Hong Kong and China and may start the IPO in the second quarter, said the two sources, who asked not to be identified because the plan is private.
China Daily - Agencies
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