The Bank of Shanghai will determine underwriters for its planned Hong Kong initial public offering by the end of this month, the China Business News reported on Tuesday, citing unidentified sources.
Eighteen investment banks, including Goldman Sachs, HSBC Holdings Plc, Citigroup Inc, China International Capital Corp and CITIC Securities Co have taken part in the contest, the newspaper said.
Bank of Shanghai, partly owned by HSBC, said in April that it planned to sell up to 1.2 billion shares in an IPO in Hong Kong, while continuing to wait for regulatory approval for its long-delayed Shanghai listing.
More than a dozen city commercial banks are seeking to sell shares publicly in China in a bid to replenish capital and meet tough regulatory requirements.
Category: Hong Kong