Grandall Law Firm is leading the $1.6 billion initial public offering of Orient Securities Co. Ltd.’s on the Shanghai Stock Exchange.
The Shanghai-based brokerage operates, which operates a joint venture brokerage with Citigroup Global Markets Asia Ltd., will list on March 11. The proceeds will be used for general corporate purposes, including boosting its stake in joint ventures such as the one with Citigroup. Orient Securities currently owns 67 percent of the Citi Orient Securities Co. Ltd. joint venture.
