More Chinese brokerages have unveiled plans for Hong Kong IPOs on hopes that stabilised stock markets on the mainland and the SAR will signal a recovery in the sector. Beijing-based china securities is preparing to raise about US$800m-$lbn from a Hong Kong IPO, according to people close to the plan. The securities house, in which Citic Securities owns a stake, has distributed a request for proposals and invited banks to pitch for the planned IPO this week. China Securities has joined a number of PRC brokers looking to list in Hong Kong this year and has targeted a launch as early as the end of the year. orient securities intends to open books on Monday for its Hong Kong IPO of up to US$1.15bn, while everbricht securities aims to seek listing approval in July for a US$1bn Hong Kong share sale, china merchants securities will embark on its US$2bn Hong Kong IPO in September.
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