China International Capital Corp, a major Chinese investment bank, has taken the first steps for its long-awaited initial public offering in Hong Kong, through which it plans to raise about $1 billion.
The Beijing-based group filed its IPO application to the Hong Kong stock exchange on Monday and could go public as early as late September, according to people familiar with the matter.
“CICC is attempting to list in late September or October but this will still be subject to market conditions, especially against the backdrop of a volatile Chinese stock market,” a source with direct knowledge of the deal told Finance...
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