SHANGHAI | Thu Nov 24, 2011 7:47pm EST
(Reuters) – China’s Soochow Securities, a mid-sized brokerage, plans to offer up to 500 million shares in its Shanghai initial public offering and will kick off pre-marketing on November 28, the company said on Friday.
Soochow, ranked China’s No. 28 brokerage last year, will conduct the roadshow from November 28-29 and will issue a price range for the Shanghai IPO on November 30, it said in a statement to
the Shanghai Stock Exchange.
It is expected to set the IPO price on December 5.
The company, which has obtained regulatory approval for its listing in September, did not provide a fundraising target.
Citic Securities (600030.SS) is the underwriter for the offering.
Soochow Securities, based in the eastern Suzhou city, has an asset base of 18.7 billion yuan ($2.94 billion). Its larger rival Founder Securities (601901.SS) raised 5.85 billion yuan in August.
($1 = 6.3680 yuan)
(Reporting by Ruby Lian and Fayen Wong; Editing by Jonathan Hopfner)
(This story corrects pricing dates in paragraph two and three)
Jacqueline Tongko 