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Everbright Securities sets A-shares IPO price range

(Xinhua)
Updated: 2009-08-03 11:17

Everbright Securities, China's 11th biggest brokerage by assets with a registered capital of 2.9 billion yuan ($424 million), announced Sunday that its A-shares initial public offering (IPO) price range had been set.

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The IPO price would range between 19 yuan and 21.08 yuan per share, and the company was scheduled to issue no more than 520 million A-shares, the firm said in a statement to the Shanghai Stock Exchange on Sunday night.

The company is to become the first listed brokerage in the country after the China Securities Regulatory Commission resumed IPOs this June.

The company posted a net profit of 1.28 billion yuan in the first half of this year, which even exceeded the overall net profit of 1.22 billion yuan in 2008.