Six heavywieghts (重量級投資者) in CITIC cornerstone kitty (note 1)

China’s largest brokerage CITIC Securities has locked in (note 2) at least six cornerstone(重要) investors for its Hong Kong initial public offering the mainland pension provider among them.

 

Top investors on board, apart form the National Social Security Fund, are Singapore’s Temasek Holdings and Kuwait Investment Authority.

 

Others include Taiwan-based Fubon Life Insurance, Brazilian investment bank BTG Pactual and US-based hedge fund (note 3) Och-Ziff Capital Management.

 

CITIC plans to serure HK$700 million of its HK$15.6 billion IPO from conrnerstone investors.

 

A guideline price of HK$13.95 per share has been set, compared to the 12.29 yuan (HK$15) close of the firm’s Shenzhen-listed stock.  The roadshow(新股介紹會) kick off (note 4) tomorrow.

 

In other action, Xiao Nan Guo reopens its retail book today for the restaurant chain’s HK$740 million offering. Minimum spending is set at HK$4,444.35 for a board lot (一手) of 2,000 shares.

 

Separately, the retail tranche of Hongguo failed to get any margin orders on day two of bookbuilding (note 5), with the shoemarker aiming for HK$1.62 billion.

 

Also disappointed on the second day of bookbuilding was Tenfu Holdings. The tea maker and retailer drew only HK$100,000 in margin orders, sharply below it HK$142 million retail target.

 

Meanwhile, iron ore maker China Han King Holdings plans to resume its IPO, which was suspended (停止) in June.

 

The Liaoning-based company, which will restart its roadshow on Monday, had planned to raise up to HK$19.78 billion the last time.

 

In other action, Tsinghua University’s Singapore-registered company Technovator is set to start its raodshow on Tuesday.

 

The company, which offers energy efficiency management (note 6) for buildings, plans to raise HK$500 million. Lastly, TV series production company Hairun Media is poised for (準備) a HK$1.6 billion flotation in November.

 

(note 1) kitty=湊集的金錢。Kitty 也是小貓女和女子Catherine 的暱稱。

(note 2) locked in=鎖定。lock=鎖上,卡住,塞住。lock a secret in one's heart=嚴守秘密。locked in a fliight=打得難分難解。lock away=鎖起來。lock up=上鎖,鎖住。

(note 3) hedge fund=對衝基金。hedge=隔牆,兩方下注,模稜兩可的話。A hedge between keeps friendship green=君子之交淡如水。on the hedge=要兩面態度,騎牆。Hedge a question=對間題避不作答。

(note 4) kicks off=開展。
kick=踢,解雇,戒除(毒癮)。kick around=經常改變行業。kick oneself=嚴厲自責。kick up=踢起(灰塵),引起(騷動)。get a big kick out of=得到極大的快感(愉快)。kick in the pants (teeth)=意想不到的挫折。get the kick=被解僱。

(note 5) book building=接受登記新股認購 (An underwriter "builds a book” by accepting orders from fund managers and retail investors indicating the number of shares they desire and the price they are willing to pay.)。

By the book=慣例,常規。examine the books=查帳。close the books=結帳,決算,結束,終止。take a leaf out the another's book=仿效別人行動,學某人的樣子,效顰。

(note 6) energy efficiency management=高效率能源管理