Investors pledge $1.4 bln toward Everbright Bank HK listing -IFR
HONG KONG Dec 4 (Reuters) - Shanghai-listed China Everbright Bank Co Ltd has received initial commitments worth nearly $1.4 billion from 10 investors for an up to $1.8 billion listing in Hong Kong, IFR reported on Wednesday citing people familiar with the plans.
The group of so-called cornerstone investors includes U.S. hedge fund D.E. Shaw & Co, China Shipping (Group) Co and Zhongrong International Trust, reported IFR, a Thomson Reuters publication. China Shipping made the largest commitment at $800 million.
The final list and amount of investment may change, IFR reported.
Cornerstone investors receive a guaranteed allocation in exchange for agreeing to retain their stakes for a set period. (Reporting by Fiona Lau of IFR; Writing by Elzio Barreto; Editing by Christopher Cushing)
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