16 January 2019

Harbin Bank plans US$1 bln Hong Kong IPO, WSJ says

China’s Harbin Bank will seek approval from Hong Kong’s securities regulator in early March for a US$1 billion initial public offering (IPO) in April, the Wall Street Journal reported Wednesday, citing people with direct knowledge of the deal. If the application succeeds, the bank will be the fourth Chinese lender to list in Hong Kong since November. ABC International Holdings Ltd., BOC International Holdings Ltd. and China International Capital Corp Ltd. are the lead banks for the IPO. DBS Bank, CIMB Group and J.P. Morgan Chase & Co. are helping the share sale, the report said. In December, China Everbright Bank, the country’s 11th largest by assets, completed a US$3 billion IPO, Hong Kong’s biggest for 2013. Huishang Bank Corp. and Bank of Chongqing raised about US$2 billion in their November listings.

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