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Haitong Securities to Raise $3.9 Billion Selling H-Shares

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Haitong Securities Co., China’s second-biggest brokerage by market value, said it plans to raise HK$29.9 billion ($3.9 billion) selling shares in a private placement in Hong Kong.

The company will sell 1.92 billion additional Hong Kong-listed shares at HK$15.62 each, it said in a statement to Shanghai’s stock exchange.