HONG KONG, May 5 (Reuters) - Guangzhou Rural Commercial Bank Co Ltd (GRCB) plans to start pitching an initial public offering of up to $1 billion to investors next week, after getting approval from the Hong Kong stock exchange, IFR reported on Friday, citing people close to the deal.
The so-called pre-marketing period will last for a week and the bank is slated to start taking orders for the IPO on May 15, added IFR, a Thomson Reuters publication.
GRCB did not immediately reply to a Reuters request for comment on its IPO approval and marketing plans for the deal.
ABC International, CCB International, China International Capital Corp Ltd (CICC) and China Merchants Securities were hired as sponsors for the IPO, GRCB said in a preliminary deal prospectus.
Reporting by Fiona Lau of IFR; Writing by Elzio Barreto; Editing by Randy Fabi