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
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)