Broker Guotai Junan set for flat HK debut after $2.1 bln share sale

HONG KONG, April 11 (Reuters) - Shares in Guotai Junan

Securities Co Ltd were set to open flat in their Hong

Kong debut on Tuesday, after China's third-largest brokerage by

assets raised $2.1 billion to expand its institutional client

business and open retail branches.

Guotai Junan was indicated to open at HK$15.84, the same as

its share sale price of HK$15.84 for the rare fixed-price stock

offering. The benchmark Hang Seng index was poised to

open flat.

Demand from retail investors - who have a significant

influence over first-day trading in Hong Kong share offerings -

accounted for just 3.6 times the number of shares on offer in

the Guotai Junan deal, the company said in a filing on Monday,

while the institutional tranche was well oversubscribed.

(Reporting by Elzio Barreto; Editing by Stephen Coates)