China Everbright Bank to sell shares in Hong Kong

The Chinese bank, which raised $2.8 billion from a Shanghai IPO in August, said it plans to tap the Hong Kong market by offering up to 12 billion shares.

Lillian Liu

February 22, 2011

Just over seven months after raising Rmb18.9 billion ($2.8 billion) from a Shanghai initial public offering, China Everbright Bank is thirsty for capital again and plans to sell 10.5 billion H-shares in a Hong Kong IPO to replenish its capital reserve, the lender said yesterday.

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