China Everbright plans $6bn Hong Kong listing
CHINA Everbright Bank is planning to raise about $6bn (£3.7bn) in a Hong Kong initial public offering, according to a term sheet of the deal.
The lender plans to issue 10.5bn shares as part of the deal.
China Everbright Bank is set to kick off pre-marketing by as soon as next week, with listing scheduled for 11 July, according to sources.
Its Hong Kong plans comes just six months after its Shanghai IPO.
Everbright Securities, China International Capital, Morgan Stanley, JP Morgan, UBS, BNP Paribas, BOC International, HSBC and Shenyin Wanguo have been hired to manage the offering.
Separately, China Everbright said that a fund it runs with Macquarie Group had secured nearly half a billion dollars from global investors for a Greater China infrastructure fund, bringing the total amount available for investment to $729m.