Enflame Tech IPO: Brokers Hold Stakes Ahead of Listing

TREE NEWS update: Shanghai Enflame Technology announced on Sept 7 that online investors forfeited nearly 16,900 shares in its IPO, which will be underwritten by the lead sponsor for 2.3991 million yuan. Brokerages, insurers and trusts had invested early via prior rounds. GF Securities’ alternative arm directly holds over 2.8 million shares, the most among brokers; Guotai Haitong holds over 960,000 directly plus more via platforms. CICC’s private equity arms invested five years ago.