HONG KONG May 5 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
(Reporting by Fiona Lau of IFR; Writing by Elzio Barreto;
Editing by Randy Fabi)