Guangfa Bank Hires IPO Underwriters

(Beijing) -- China Guangfa Bank has hired ten international and domestic financial institutions as underwriters for its Hong Kong-Shanghai dual listings.

Dong Jianyue, chairman of Guangfa Bank, told Caixin in a May 16 interview that the bank's dual listings, which are expected to raise around 35 billion yuan, are awaiting approval from the State Council, and the schedule of the listing will be determined by the approval process and market conditions.