China Everbright Bank to sell shares in Hong Kong

The Chinese bank, which raised $2.8 billion from a Shanghai IPO in August, said it plans to tap the Hong Kong market by offering up to 12 billion shares.

Just over seven months after raising Rmb18.9 billion $2.8 billion from a Shanghai initial public offering, China Everbright Bank is thirsty for capital again and plans to sell 10.5 billion H-shares in a Hong Kong IPO to replenish its capital reserve, the lender said yesterday.

It is the second Chinese bank to announce fundraising plans this year. Last month, China Minsheng Bank, the country's seventh-largest lender that is listed in both Shanghai and Hong Kong, said it will...

To continue reading, please login or register for free

Print Edition

FinanceAsia Print Edition


  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...