Guotai Junan eyes Shanghai IPO
(Shenzhen Daily)Updated: 2007-04-18 13:33
Guotai Junan Securities Co, one of China's three biggest brokerages, is
preparing for a Shanghai initial public offering (IPO) this year, two sources
familiar with the situation said yesterday.
Guotai Junan, headquartered in Shanghai, has hired PricewaterhouseCoopers as its IPO auditor, they said, adding that an initial financial report by the accounting firm was completed late last month. Chinese brokerages are racking up strong earnings as their trading commissions are soaring on the back of heavy turnover on the country's bullish stock market.
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