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Guotai Junan Securities to issue 1.04 billion shares in Hong Kong IPO

Guotai JunanSecurities Co. Ltd. is looking to issue up to 1.04 billion sharesin Hong Kong, Reuters reported Sept. 26, citing a stock exchange filing.

The brokerage is said to be planning to raise at least through its plannedHong Kong IPO in 2017, according to an earlier report.

Proceeds will be used to increase capital for domestic andforeign securities-related business development and investment.