Everbright Securities Said to Gauge Share Sale Demand Next Week

  • Chinese brokerage to test interest in $1 billion offering
  • Everbright Securities secures Hong Kong listing approval

Everbright Securities Co. plans to start testing investor interest next week for a Hong Kong share sale of at least $1 billion, people with knowledge of the matter said.

Everbright Securities won listing approval on Thursday from the Hong Kong stock exchange, one of the people said, asking not to be identified as the information is private. The brokerage aims to start gauging demand for the offering as soon as Aug. 1 and plans to start trading in Hong Kong in the second half of August, according to the people.

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.

A Hong Kong-based external spokeswoman for Everbright Securities declined to comment. China Everbright Capital Ltd., UBS Group AG and Bank of America Corp. are joint sponsors of the listing, according to a June 21 filing to the Hong Kong stock exchange.

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