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Chinese lender Zhongyuan Bank prices $1 bln HK IPO near bottom-IFR
July 12, 2017 / 5:00 AM / 5 months ago

Chinese lender Zhongyuan Bank prices $1 bln HK IPO near bottom-IFR

HONG KONG, July 12 (Reuters) - Zhongyuan Bank Co Ltd, the largest city commercial bank in central China’s Henan province, priced its Hong Kong IPO near the bottom of expectations, raising $1 billion to bolster its capital base, IFR reported on Wednesday, citing people close to the deal.

The initial public offering (IPO) of about 3.3 billion shares was priced at HK$2.45 per share, near the bottom of an indicative range of HK$2.42 to HK$2.53, added IFR, a Thomson Reuters publication. That would put the total deal at HK$8.09 billion ($1.04 billion).

Zhongyuan Bank didn’t immediately reply to Reuters’ emailed request for comment on the IPO pricing. ($1 = 7.8112 Hong Kong dollars) (Reporting by Fiona Lau of IFR; Writing by Elzio Barreto; Editing by Muralikumar Anantharaman)

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