Cornerstones pledge $500m as Harbin readies IPO

Seven cornerstone investors have pledged $512 million as Harbin Bank becomes the latest in a long line of mainland Chinese financial institutions to seek a Hong Kong listing.

Cornerstones pledge $500m as Harbin readies IPO

Bankers have successfully nailed down seven cornerstone investors for Harbin Bank, who have collectively agreed to allocate more than $500 million to the Chinese bank ahead of its planned $1 billion Hong Kong initial public offering.

The roadshow originally set to start this Monday was delayed to Wednesday due to weak market sentiment.

But after securing seven cornerstones including Taiwan’s Fubon Life Insurance and Citic Capital, which pledged $289 million and $150...

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