From Xinhua via China Daily:
China CITIC Bank is planning a share listing in Hong Kong by the end of this year, followed by another share offering in China’s inland market, its president said on Friday.
CITIC is joining a Chinese bank listing parade ahead of the full opening of China’s financial market to foreign rivals. China hopes its banks will improve corporate governance and business through public listings.
CITIC Bank president Chen Xiaoxian told Xinhua the bank is targeting an initial public offering of over 15 billion Hong Kong dollars to shore up its balance sheets.[Full Text]
See below stories for Chinese banks’ recent listing parades in Hong Kong and mainland:
Bank of China Ready to Launch $9.9B IPO
Bank of China to raise $2.5bn in domestic listing
Construction Bank raises 8 b dollars in IPO
China’s biggest bank, ICBC, to seek Hong Kong IPO for September
