China Everbright Bank targets up to $3.2 billion in Shanghai IPO

The mid-size bank has set a lower-than-expected price range as worries remain that the downturn in China’s equity markets will continue in the coming months.

China Everbright Bank has set a lower-than-expected price range for its up to Rmb21.7 billion ($3.2 billion) Shanghai initial public offering, as worries remain that the downturn in China’s equity markets is likely to continue for some time.

¬ Haymarket Media Limited. All rights reserved.

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