SHANGHAI: China Everbright Bank, looking to raise around US$3bil in its Shanghai initial public offering (IPO), has put its preliminary IPO price at a modest 3.0-3.3 yuan (44-49 US cent) per share range, setting the stage for a strong reception for what could be China’s second-biggest offering this year.
Everbright’s IPO of almost 6.1 billion shares is expected to face a much warmer welcome than the mega-IPO launched by the Agricultural Bank of China just a month ago, helped by better market conditions.
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