China Everbright Bank, the country’s 11th-largest lender, has mandated China International Capital Corp CICC, Morgan Stanley and UBS for its planned H-share offering, according to sources.
The bank, which raised Rmb18.9 billion $2.8 billion from a Shanghai initial public offering last August, said in February it plans to sell 10.5 billion H-shares in a Hong Kong IPO to replenish its capital reserves. The deal will come with an overallotment option to issue an additional 1.5 billion shares in the event of strong demand, resulting in a total offering of up to 12 billion shares, the bank said in a filing to the Shanghai Stock Exchange SSE.
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