Huishang Bank raises $1.19 billion from IPO

The Chinese lender fixes the price towards the low end of the range, while Bank of Chongqing closes just below the IPO price in its trading debut.
Huishang Bank attracted some interest from international institutions, and one source said there were more than 100 accounts in the order book.
Huishang Bank attracted some interest from international institutions, and one source said there were more than 100 accounts in the order book.

Huishang Bank has raised HK$9.21 billion $1.19 billion from its Hong Kong initial public offering after fixing the price slightly above the bottom of the range at HK$3.53.

The city commercial bank, which is based in the Anhui province just west of Shanghai, was offering the shares at a price between HK$3.47 and HK$3.88.

Pricing coincided with a somewhat muted debut by Bank of Chongqing on Wednesday. The Chinese lender dropped to a low of HK$5.91 early in the session but then edged slightly higher and at one point in the afternoon it went through the HK$6 IPO price to reach...

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