Bank of Shanghai plans to raise about 15 billion yuan (HK$18.6 billion) through an initial public offering in Hong Kong this year to replenish capital, the official Shanghai Securities News reported on Tuesday, citing an internal document distributed to shareholders.
The Chinese lender, which is eight per cent owned by HSBC Holdings, also plans to raise a similar amount of money by selling shares publicly in mainland China, the newspaper said, without giving a timeframe.
Both listings are subject to regulatory approval, it added.
via Business feed http://www.scmp.com/business/banking-finance/article/1210628/bank-shanghai-eyes-15-billion-yuan-hk186-billion-ipo
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