Everbright, Hopewell Unit Set Hong Kong IPOs

The Wall Street Journal 30 May 2013
HONG KONG—China Everbright Bank and the property unit of Hopewell Holdings Ltd. have joined a recent influx of Hong Kong initial public offerings.
China Everbright, which is already listed in Shanghai, has filed an application for a US$1.5 billion to US$2 billion IPO, the state-owned bank’s third attempt at going public in Hong Kong. The midtier bank expects approval and the sale of shares in July, people with knowledge of the matter said.
Hopewell Holdings, a conglomerate controlled by tycoon Gordon Wu, plans to raise up to US$778 million in an IPO of its Hong Kong real estate arm, people with direct knowledge of the situation said Wednesday.
Hopewell Hong Kong Properties Ltd. plans to sell 340 million shares and set its price range at 15.30 to 17.80 Hong Kong dollars (US$1.97 to $2.29) a share, representing a 29% to 38% discount to its forecast net asset value, the people said.
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