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CSRC to review Everbright Bank IPO

07-26-2010 11:40 BJT Special Report:Everbright Bank IPO |

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While the market is still closely watching trading of the newly listed Agricultural Bank of China, investors will need to get their heads around yet another lender - China Everbright Bank. The China Securities Regulatory Commission will review the bank's IPO today.

It plans to offer 6.1 billion A-shares, which is 15 percent of its enlarged share capital. It could extend that to 17 percent if a greenshoe over-allotment option is fully exercised. Everbright isn't saying how much it aims to raise, but analysts predict it could be around 20 billion yuan, by offering its shares at around 1.6 to 1.7 times its projected book value. If successful, this could be the second largest bank IPO in China so far this year.

Editor:Xiong Qu |Source: CNTV.CN

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