China Everbright Bank Plans Hong Kong IPO

(Beijing) -- China Everbright Bank, a Beijing-based mid-sized bank, is planning the launch of an initial public offering in Hong Kong to replenish its core capital, according to a statement by the bank.

No timetable has been set for the IPO.

Up to 10.5 billion shares are expected to be issued and another 1.5 billion shares may be issued in the over-allotment option, according to the statement.