Bankers have successfully nailed down seven cornerstone investors for Harbin Bank, who have collectively agreed to allocate more than $500 million to the Chinese bank ahead of its planned $1 billion Hong Kong initial public offering.
The roadshow originally set to start this Monday was delayed to Wednesday due to weak market sentiment.
But after securing seven cornerstones including Taiwan’s Fubon Life Insurance and Citic Capital, which pledged $289 million and $150 million, respectively bankers are now set to spend the next three days meeting with long-only institutional investors and hedge funds in Hong Kong, China, Singapore, New York and Boston. The lockup period is six...
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