Everbright Bank raises $3 billion ahead of HK listing

The Chinese bank exercises the 15% upsize option in full to pull off this year’s largest new listing as Chinese investors come out in force to support the transaction.

China Everbright Bank (CEB) has raised HK$23 25 billion ($3 0 billion) ahead of its Hong Kong listing after exercising the 15% upsize option in full and fixing the price below the mid-point of the range

That makes it the largest new listing both in Hong Kong and in Asia ex-Japan so far this year, ahead of China Cinda Asset Management’s $2 45 billion deal

New listings include both initial public offerings and companies that are already listed but are raising new capital from a share sale and listing in a second market CEB has been listed in Shanghai since August 2010 and this is its third attempt to go public in Hong Kong

The...

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