By Vikram Subhedar and Fiona LAU
HONG KONG | Tue Oct 27, 2011-11: 11-BST
HONG KONG (Reuters) - CITIC Securities Co Ltd (600030.SS), China's largest publicly brokerage, traded Kong stock has enough commitments from investors on the Hong marketing offers two sources with knowledge of the transaction four times at the end of the range Reuters said on Tuesday.
Recent volatility in global markets, some companies, including Sanya has prompted heavy industry (600031.SS) and rival XCMG construction machinery Co Ltd 000425.SZ up to $4.5 billion (£ 2.9 billion) in last week move involved. Slumping markets can other companies, the capital, raising plans in Singapore and China hold pressure.
CITIC Securities offers 995.3 million shares (6030.HK) at an indicative price range of HK$ 12,84 of HK$ 15.2, put the whole order volume $ 15.13 billion (1.25 billion pounds), the terms of the offer as high as HK.
The price range represents a discount of 13 percent on CITIC Securities Shanghai listed shares and a premium of 3 percent.
Advice from the China Securities Regulatory Commission CSRC.L is the maximum discount with 10 percent offers CITIC Securities, similar to, so that investors, their offers to participate in the deal, encounter must according to one source.
The stock is presented since CITIC Securities of the price line, below the range at a discount, the wider than the CSRC guidelines set declined 4.3%.
Not $ 850 million in commitments from cornerstone include investors, demand for the offer, the sources get added.
The company started an investor road show for business on 16 September and is scheduled to offer price 28 September.
CITIC Securities is the sole global coordinator of the offer, with a group of banks including BOC international, CCB International, Bank of America Merrill Lynch (BAC.)(N) and Crédit Agricole (CAGR.)(PA) CLSA unit also help to draw business.
(Letter of Elzio Barreto;) (Editing by Chris Lewis and Ken wills)
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