Orient Securities Co, which has an investment banking joint venture with a unit of Citigroup Inc in China, priced its Hong Kong share offering at HK$8.15 ($1.05) per share, near the bottom end of expectations, raising about $1 billion, IFR reported on Wednesday.

Orient Securities, which filed for the Hong Kong listing under the name DFZQ, had offered shares in a range of HK$7.85 to HK$9.35 each.

The deal consisted of 870 million new shares and 87 million existing shares from 12 State-owned shareholders of the company on behalf of China's National Council for Social Security Fund, according to the offering prospectus. Orient Securities is set to debut in Hong Kong on July 8.

Citigroup, Goldman Sachs and Nomura were joint sponsors of the deal.