China’s Huishang Bank plans up to $1.5 bln Hong Kong IPO -IFR

Reuters 5 June 2013
(Reuters) – China’s Huishang Bank has invited banks to submit proposals for a Hong Kong initial public offering (IPO) which could raise as much as $1.5 billion, IFR reported on Wednesday.
Huishang originally planned to raise about 10 billion yuan ($1.63 billion) from a Shanghai IPO, but is now looking to list in Hong Kong, where it is likely to raise $1 billion to $1.5 billion, IFR reported.
The deadline for banks to submit proposals is June 8.
Bank of Chongqing, after waiting for almost five years to list in the A-share market, has already decided to turn to Hong Kong for a proposed listing of up to $600 million in the second half of the year via Goldman Sachs and Morgan Stanley .
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