25 February 2020

Mainland bank plans HK listing, WSJ says

Bank of Chongqing Co. will begin selling an initial public offering of up to US$591 million in Hong Kong Wednesday, in the first listing by a Chinese lender in almost three years, the Wall Street Journal reported Tuesday. The bank will sell 707 million shares, 670 million of them new, in a price range of HK$5.60 to HK$6.50 (72 U.S. cents to 84 U.S. cents), the report said, citing people familiar with the situation. Another Chinese city lender, Huishang Bank Corp, is sounding out investors about a listing in coming weeks of up to US$1.2 billion, also in Hong Kong, it said. 

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