Everbright Securities plans secondary listing in Hong Kong

Reuters

SHANGHAI, March 31 (Reuters) - Chinese brokerage Everbright Securities Co Ltd is planning a secondary listing in Hong Kong, the firm said in a regulatory filing late on Monday, to make its shares more accessible to overseas investors. The brokerage said it planned to issue no more than 680 million H-shares and that it would set a clear timetable for the listing at its next general shareholders' meeting. Profits and share prices of Everbright and other Chinese brokerages have surged on rising retail investor numbers and trading volumes, spurred by the central bank's surprise interest rate cut in November. China again cut interest rates this month. ($1 = 6.2065 Chinese yuan renminbi) (Reporting by Adam Jourdan; Editing by Edmund Klamann)