HONG KONG, June 13 (Reuters) - Guangzhou Rural Commercial Bank Co Ltd (GRCB) is set to price its Hong Kong initial public offering near the middle of expectations, IFR reported on Tuesday, citing people close to the deal.
China’s fifth-largest rural commercial bank by assets has notified investors the 1.58 billion shares on offer will be priced at between HK$5.05 to HK$5.15 each, near the middle of its marketed range of HK$4.99-HK$5.27 per share, added IFR, a Thomson Reuters publication.
Given the narrower price band, the deal could total up to HK$8.14 billion ($1.04 billion).
GRCB did not immediately reply to a Reuters request for comment on the IPO pricing. ($1 = 7.7992 Hong Kong dollars) (Reporting by Fiona Lau of IFR, Writing by Elzio Barreto; Editing by Himani Sarkar)