Nanhua Futures Co. and Ruida Futures Co. are set to become the first futures brokerages listed in mainland China, as regulators ease trading curbs in a drive to revive the market segment.
Retail investors placed orders for more than 1,800 times the shares available to them in Nanhua’s initial public offering in Shanghai, the Hangzhou-based company said in a filing today. The operator of financial and commodity futures trading has raised $53 million selling shares at about 23 times earnings. A listing date has yet to be announced.