China Everbright Bank goes ahead with Hong Kong listing plan

Based on its current A-share price, the Beijing-based commercial bank may raise about $5.6 billion from its Hong Kong listing, pre-shoe.
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Photo: AFP</div>
<div style="text-align:right;"> Photo: AFP</div>

After a one-day delay to consider market conditions, China Everbright Bank has decided to go ahead with its plan for a Hong Kong listing and yesterday kicked off pre-marketing for what could become the largest share sale in Hong Kong so far this year.

The Beijing-based lender, which listed in Shanghai in August last year, has earlier said that it intends to sell up to 10.5 billion new H-shares in Hong Kong, with the potential to add another 1.5 billion shares through an overallotment option. Based on its current A-share price, this implies a base deal size of about $5.6 billion.

This is slightly less...

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