Everbright scales back H shares offering
Updated: 2012-08-14 17:01
By Cai Xiao (chinadaily.com.cn)
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China Everbright Bank scaled back its H shares offering again to about $1.4 billion, only about 25 percent of the original target, due to the weak and volatile global capital markets, Xinhua News Agency reported on Aug 14.
The report said that, due to the eurozone debt crisis and the US economic slowdown, investors in the Hong Kong Stock Exchange are more cautious.
The bank filed its IPO application to the Hong Kong Stock Exchange in May and planned to get listed in the third quarter of the year.
The bank's underwriters include CICC, Morgan Stanley, JP Morgan and UBS.
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