HUATAI SECURITIES H-SHARES: Offer prices at top of range, looks hot

Huatai Securities filed a Price Determination filing with the HKEx very late Friday night to confirm that HTSC had set the HK Offer Price at the top end of its pricing range of HK$24.80/share. 

This was to be expected as since the launch of the deal, when the top of the range was a 27% discount to the A-share, the A-share had risen 17% putting the top end of the range at a 37.5% discount. The A-shares are up another 4% this morning putting the Hs at an almost even 40% discount to the As as of now.

Huatai will announce the level of indication of interest in the International Offering, the basis of allocation and the level of applications under the Hong Kong Public Offering in the South China Morning Post, the HK Economic Times, HKEx News, and on HTSC's homepage on Friday, May 29, 2015 .

Trading will start June 1.

Books are closed. The deal looks "hot."

More broker offerings are on their way! Citic Securities was approved Friday by the CSRC to issue another 1.5bn H-shares - that's $6.25bn at a 5% discount to Friday's close.