Ever­bright Bank mulls pub­lic of­fer­ing in Hong Kong

China Daily (Hong Kong) - - BUSINESS DIGEST -

China’s State-run Ever­bright Bank, a mid­sized lender that saw its pro­pri­etary-trad­ing arm sus­pended from trad­ing two weeks ago, is in the process of ap­ply­ing for an ini­tial pub­lic of­fer­ing in Hong Kong, the com­pany said on its mid-term re­port on Mon­day. The com­pany is pro­mot­ing the H-share list­ing to fur­ther strengthen its cap­i­tal, the re­port said. China’s Min­istry of Fi­nance and the China Bank­ing Reg­u­la­tory Com­mis­sion have ap­proved the move. The bank has for­mally sub­mit­ted its ap­pli­ca­tion to the China Se­cu­ri­ties Reg­u­la­tory Com­mis­sion and to the Hong Kong Stock Ex­change.

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