Everbright Bank IPO could be held up by rival offering

As its top priority, Beijing wants Agricultural Bank of China to be the first lender to tap the capital markets this year to avoid potential investor fatigue with Chinese financials, observers say.

It's been nearly two years since China Everbright Bank filed an application with the securities regulators for an initial public offering IPO in Shanghai, and while there is still no sign of approval from Beijing, the lender is not just biding its time. It has replenished its capital reserve via a private placement last year and is said to have managed to clear all the odds against a new share sale.

However, while there are no more technical problems blocking...

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