Central China Securities plans $300m IPO next month

Central China Securities has started a pre-marketing process for a $300 million initial public listing in Hong Kong in a month's time, the Shanghai Securities News reported on Wednesday, citing an unidentified company source.

The paper said Central China Securities is working with China Galaxy International, as well as other banks, to arrange joint underwriting for the offering.

Calls to Central China Securities seeking comment went unanswered. China Galaxy International bankers could not be reached for comment.

The brokerage, based in Henan province, reported a net profit of 260 million yuan ($41.6 million) in 2013 and had total assets of 12.94 billion yuan as of the end of last year.

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