Date
20 October 2017

Everbright Bank sees improved CAR after IPO

China Everbright Bank Co. Ltd. (06818.HK) expects its capital adequacy ratio (CAR) and core CAR to increase by 1 percentage point after its Hong Kong initial public offering, senior executive vice president Lin Li said Monday. The lender’s CAR was 9.67 percent and core CAR was 7.77 percent as of June 30. The share sale will help Everbright Bank meet Basel III capital requirements in the next two years even as it considers other funding instruments such as preferred stock, Lin said. Everbright Bank is seeking as much as HK$21.7 billion in a Hong Kong initial public offering by selling 5.08 billion new shares at HK$3.83 (49.2 US cents) to HK$4.27 apiece, a sale document shows.

– Contact HKEJ at [email protected]

YL/JP/RA

 

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