NEW YORK, July 25 (Xinhua) -- AMTD International, a Hong Kong-based asset manager and investment bank, announced Thursday that it plans to offer around 20.8 million American Deposit Shares (ADSs) for its proposed initial public offering (IPO).
Founded in 2003, the company set the offering at a price range from 8.1 U.S. dollars to 8.48 dollars, according to its latest prospectus.
The company plans to list on the Nasdaq Global Market or the New York Stock Exchange under the symbol HKIB.
It is estimated that AMTD International will receive net proceeds of approximately 155.3 million dollars from this offering, or 179.3 million dollars if the underwriters exercise their option to purchase additional ADSs in full.
The net proceeds to be received from the offering will be used primarily for investing in the bank's business and infrastructure expansion, fund potential acquisitions and investments, said the prospectus.
AMTD Global Markets, Loop Capital Markets, MasterLink, ViewTrade and Tiger Brokers serve as joint bookrunners for the offering.
Measured by assets under management as of March 31, AMTD International is currently the largest independent asset management firm in Asia that serves both China's regional banks and new economy companies, according to a report by independent research firm China Insights Consultancy.
