Bank of Chongqing raises $548m from IPO

The Chinese lender sets the price just below the mid-point at HK$6 per share after the mostly China-based cornerstones and anchor investors were joined by decent demand from international institutions.

Bank of Chongqing raises $548m from IPO

Bank of Chongqing has raised HK$4.24 billion $548 million from the first initial public offering by a Chinese bank in Hong Kong in almost three years, after fixing the price just below the mid-point of the range at HK$6 per share.

The deal did rely quite heavily on the demand from corporates, high-net-worth individuals and the odd institutional investor out of China that was lined up before launch and the majority of the...

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