Date
21 October 2018

Vanke to put HK$3 bln in Huishang Bank IPO, HKEJ says

Property developer China Vanke Co. Ltd. (000002.CN) will invest more than HK$3 billion (US$386.92 million) in Huishang Bank Co., Ltd.’s initial public offering, becoming a cornerstone investor and its largest shareholder after the IPO, the Hong Kong Economic Journal reported Monday, citing the bank’s preliminary sales prospectus. The bank, which plans to raise up to HK$10.13 billion, will have five cornerstone investors, who together will put in more than HK$4 billion. The bank will begin selling IPO shares on Thursday and start trading on November 12, the report said.

– Contact HKEJ [email protected]

TL/AC/SK

 

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