Deals
Zheshang Bank Said to Delay Testing $1 Billion IPO Interest
- Potential cornerstone buyers report difficulty sending funds
- IPO pre-marketing was originally scheduled to start Monday
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China Zheshang Bank Co. postponed gauging demand for a $1 billion Hong Kong initial public offering, after stock buyers reported difficulty transferring money out of mainland China, people familiar with the matter said.
Potential cornerstone investors from China told deal arrangers they couldn’t get timely regulatory approval to send money across the border, according to the people, who asked not to be identified because the information is private. The lender, based in the eastern Chinese city of Hangzhou, had originally planned to start so-called pre-marketing of the deal on Monday, the people said.