HONG KONG, March 17 (Reuters) - China's Guotai Junan
Securities has won approval from the Hong Kong stock
exchange for its planned about $2 billion share offering,
Thomson Reuters publication IFR reported late on Thursday,
citing people familiar with the situation.
The Shanghai-listed brokerage plans to start pre-marketing
for the deal as early as next week, in what will be the biggest
Hong Kong share sale so far this year. It plans to sell not more
than 1.04 billion H shares, excluding a greenshoe option of 15
percent of the base deal.
Shenzhen-listed Shenzhen Energy Group said last
month that it would invest up to $250 million as a cornerstone
investor in Guotai Junan's offering.
Bank of America Merrill Lynch, Goldman Sachs,
Shanghai Pudong Development Bank International and Guotai
Junan's Hong Kong investment-banking arm - Guotai Junan
International are joint sponsors of the transaction.
The proceeds will be used to raise capital for domestic and
foreign securities-related business development and investment,
Guotai Junan said in a Shanghai bourse filing in September 2016.
The brokerage went public in June 2015, raising $4.8
billion, in what is still the largest listing in mainland China
(Reporting by Fiona Lau of IFR, writing by Julie Zhu; Editing
by Himani Sarkar)