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 offered its shares at a price between HK$5.60 and HK$6.50, which translated into a 2013 P/B multiple of 0.88 to 0.99 times.
Bank of Chongqing offered its shares at a price between HK$5.60 and HK$6.50, which translated into a 2013 P/B multiple of 0.88 to 0.99 times.
November 01, 2013

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.

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