Regional lender China Bohai Bank is seeking a listing on the Hong Kong Stock Exchange (HKSE) to raise around USD$3 billion in funds.
China Bohai submitted its IPO application to the HKSE on 26 February, according to information from the bourse’s official website.
China Bohai also submitted application materials to the China Securities Regulatory Commission (CSRC) on 13 February and received approval from the authority on 14 February.
The regional lender reportedly hopes to raise between $2-3 billion via its Hong Kong listing.
As of 30 September China Bohai’s total assets were 1.0957923 trillion yuan, while its total liabilities were 1.0150083 trillion yuan.
China Bohai’s total operating revenues were 21.1503 billion yuan for the first nine months of 2019, while its net profits were 6.5399 billion yuan and its non-performing loan ratio was 1.77%.