Guotai Junan Securities HK (2611.HK), China's third-largest brokerage by assets raised $2.1 billion in its Hong Kong IPO. The company commands a market value of $17.7 billion and qualifies for inclusion in the Renaissance International IPO ETF at the market's close on April 20, 2017.
The Renaissance International IPO ETF is designed to provide investors with efficient exposure to a portfolio of non-U.S.-listed newly public companies ahead of their inclusion in core equity portfolios. By tracking the rules-based Renaissance International IPO Index, the Renaissance International IPO ETF includes the most economically significant non-U.S.-listed newly public companies. Sizable IPOs are added on a fast entry basis and the rest are added during scheduled quarterly reviews. Companies are removed two years after their initial trade date, when they become seasoned equities.