Minsheng Bank raises $3.89 billion in largest Asian IPO this year

The Chinese lender becomes more attractive as valuations for other banks improve. Meanwhile, Sany Heavy Equipment prices its offering at the top of the range for a total deal size of $309 million.

Minsheng Banking Corp has fixed the price of its initial public offering just above the mid-point of the range for a total deal size of HK$30.15 billion $3.89 billion. This makes it the largest IPO in both Hong Kong and Asia so far this year, ahead of Metallurgical Corp of China's $2.35 billion H-share offering in September and Malaysian mobile operator Maxis's $3.3 billion IPO earlier this month.

According to sources, Minsheng attracted $33 billion to $34 billion...

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