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.

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 million, respectively bankers are now set to spend the next three days meeting with long-only institutional investors and hedge funds in Hong Kong, China, Singapore, New York and Boston. The lockup period is six...

¬ 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