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Bank of Beijing plans Hong Kong IPO, could raise $4 bln
April 29, 2014 / 12:55 AM / in 4 years

Bank of Beijing plans Hong Kong IPO, could raise $4 bln

SHANGHAI, April 29 (Reuters) - Bank of Beijing Co Ltd said it plans to issue shares in Hong Kong, in an offering that could raise over $4 billion based on Reuters calculations.

The medium-sized Chinese lender plans to float a maximum of 3.4 billion H-shares on the Hong Kong Stock Exchange’s main board, pending on approval by shareholders and regulators, the company’s board said in a filing to the Shanghai Stock Exchange late on Monday.

Based on the company’s share value in Shanghai, that implies a raising of the Hong Kong-dollar equivalent of around 26 billion yuan ($4.16 billion).

$1 = 6.2530 Chinese Yuan Reporting by Lu Jianxin and Pete Sweeney; Editing by Stephen Coates

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