China Bohai Bank will pursue approval for its listing on the Hong Kong Stock Exchange (HKSE) this week according to local media reports.
Sources said to local media that the Tianjin-based lender hopes to participate in listing hearings this week for an IPO in Hong Kong that could raise up to USD$2 billion.
Standard Chartered holds a 20% stake in the mid-tier regional Chinese lender, while state-backed TEDA Investment Holding has a 25% stake.
Underwriting banks will include ABC International, CCB International, CLSA and Hating International Securities Group.
Bohai Bank’s annual report points to net profit of 6.62 billion yuan for the nine months to September 2019, for a YoY rise of 6.1%. Total revenue leaped by almost 19% YoY to 21.13 billion yuan.
Sources told Bloomberg in December last year that Bohai Bank hoped to raise $2 billion via a Hong Kong listing in the second half of 2020.