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Finance

Secondary listing of China's third largest brokerage to warm tepid Hong Kong market

Guotai Junan's $2.1 billion deal outdoes city's total funds raised so far

Vice president Zhu Jian, left, chairman Yang Dehong, middle, and vice chairman Wang Song, discussed Guotai Junan Securities’ secondary listing in Hong Kong on March 27. (Photo by Joyce Ho)

HONG KONG -- Guotai Junan Securities, China's third largest brokerage by both operating revenue and assets, might have come to the rescue of Hong Kong's tepid listings market, which has recorded a 63% year-on-year decline in funds raised as of March 27.

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