June 14, 2017 / 12:58 AM / a month ago

Guangzhou Rural Bank HK IPO priced near middle of range, raises $1 bln-source

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HONG KONG, June 14 (Reuters) - Guangzhou Rural Commercial Bank Co Ltd (GRCB) priced its Hong Kong IPO slightly below the middle of its indicative range in a deal that has raised about $1 billion, a person with direct knowledge of the transaction said on Wednesday.

China's fifth-largest rural commercial bank by assets priced the deal at HK$5.10 per share, after marketing it in a HK$4.99-HK$5.27 indicative range, said the source.

It was the largest new listing in Hong Kong this year, surpassing the $511 million raised by WuXi Biologics (Cayman) Inc last week.

The source declined to be identified as details of the deal aren't public.

GRCB did not immediately reply to a Reuters request for comment on the IPO pricing. (Reporting by Julie Zhu; Writing by Elzio Barreto; Editing by Edwina Gibbs)

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