Bank of Chongqing to seek HK approval on Thu for up to $1 bln IPO-IFR

Written By Unknown on Kamis, 03 Oktober 2013 | 18.12

HONG KONG | Thu Oct 3, 2013 5:13am EDT

HONG KONG Oct 3 (Reuters) - Bank Of Chongqing will seek approval from the listing committee of the Hong Kong stock exchange on Thursday for an $800 million to $1 billion initial public offering, IFR reported, the first of several Chinese city commercial lenders seeking to go public.

The bank, which had waited for almost five years for approval to list in the mainland Chinese market, is expected to begin investor meetings on the deal the week of Oct. 14, added IFR, a Thomson Reuters publication, citing sources familiar with the offering.

Goldman Sachs and Morgan Stanley were hired as joint global coordinators of the IPO, with BoCom International, CCB International, China International Capital Corp and Credit Suisse also acting as joint bookrunners.


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