citic-bank-sets-price-range-for-57-billion-dual-listing

Citic Bank sets price range for $5.7 billion dual listing

Japan's Mizuho signs on as one of four cornerstone investors. Valuation reflects the lack of size as a marketing argument.
Beijing-based China Citic Bank has signed up four cornerstone investors for the Hong Kong portion of its dual H- and A-share listing and has set a price range that could see it raise a combined $5.7 billion, with the H-share tranche alone targeting as much as HK$30.1 billion $3.9 billion, sources say.

While no doubt important as a confidence builder, the four cornerstones will together take up only about $200 million, or less than 7% of the offering at the bottom of the range û much less than in other Hong Kong listings of equivalent size.

However, this allocation comes on top of the 29% of the deal that will be bought by...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222