Guangzhou Rural Bank eyes US$1b IPO
HONG KONG: Guangzhou Rural Commercial Bank Co plans to seek approval from the Hong Kong stock exchange this week for an initial public offering, said sources. The share sale could raise about US$1 billion (RM4.33 billion), said the sources. The lender was among Chinese regional banks, including Bank of Jiujiang Co, that are seeking Hong Kong listings as a way to boost their profile and raise capital for expansion. The Asia hub has hosted US$20.8 billion of first-time share sales from the finance sector since the start of last year, Bloomberg data showed.