Green Tea Group secures $10.7 billion in margin financing ahead of debut

Retail investors have flooded mainland restaurant chain Green Tea Group's Hong Kong initial public offering with HK$10.7 billion through margin financing on Monday.

That marks an oversubscription of 88 times.

Among brokers, Futu Securities accounted for HK$7.04 billion in margin loans.

Green Tea, which seeks to raise about HK$1.21 billion, was asking for a minimum investment of HK$2,905 per board lot of 400 shares.

It expects a debut on May 16, with Citigroup and CMB International Capital as joint sponsors.

STAFF REPORTER