(Bloomberg) -- Bank of Nanjing Co. and Bank of
Ningbo Co. may raise a combined $1.46 billion in the first
initial public offerings by Chinese city lenders, seeking funds
to help fend off larger competitors.
Bank of Nanjing, part-owned by BNP Paribas SA, may raise as
much as 6.93 billion yuan ($914 million) selling 630 million
shares, a 34.3 percent stake, at 9.80 yuan to 11 yuan each, it
said today in a filing to the Shanghai exchange. Bank of Ningbo
will sell 450 million shares at 8 yuan to 9.20 yuan to trade in
Shenzhen, raising as much as 4.14 billion yuan, it said in a
separate filing to the city's bourse.
Read more at Bloomberg Emerging Markets News
Ningbo Co. may raise a combined $1.46 billion in the first
initial public offerings by Chinese city lenders, seeking funds
to help fend off larger competitors.
Bank of Nanjing, part-owned by BNP Paribas SA, may raise as
much as 6.93 billion yuan ($914 million) selling 630 million
shares, a 34.3 percent stake, at 9.80 yuan to 11 yuan each, it
said today in a filing to the Shanghai exchange. Bank of Ningbo
will sell 450 million shares at 8 yuan to 9.20 yuan to trade in
Shenzhen, raising as much as 4.14 billion yuan, it said in a
separate filing to the city's bourse.
Read more at Bloomberg Emerging Markets News
No comments:
Post a Comment