Bank of Zhengzhou tests demand for IPO

After two city commercial bank listings already in the last fortnight, it remains to be seen how much demand is left in the market for such assets.

Bank of Zhengzhou started a three-day period of pre-marketing for its initial public offering on Monday with a view to getting the deal done before the end of the year.

The Chinese city commercial lender, the third one vying to come to market in recent weeks, is looking to sell 1.32 billion shares, or 25.67% of its enlarged share capital, including a 9% stake held by the National Social Security Fund, bankers familiar with the situation said.

Bookrunners will have to tread gingerly in soliciting investor feedback following the successful IPOs of Bank of Qingdao and Bank of Jinzhou, which may have already sucked...

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