Deals
Bank of Jinzhou Starts $943 Million Hong Kong Initial Offering
- City commercial banks raise funds to expand beyond home bases
- Lenders in Qingdao, Zhengzhou also aim to list by year-end
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Bank of Jinzhou Co., a lender in northeastern China, and an existing shareholder are seeking as much as $943 million from a Hong Kong initial public offering.
Bank of Jinzhou, based in Liaoning province, and the investor are offering 1.32 billion shares at HK$4.64 to HK$5.54 apiece, according to terms for the deal obtained by Bloomberg. New shares account for 90.9 percent of the offering, the terms show.