CITIC Bank plans dual listing

(China Daily)
Updated: 2007-03-22 09:27

China CITIC Bank may offer 60 percent of its planned US$3 billion initial public offering in Hong Kong and the remainder in Shanghai, the South China Morning Post reported, citing unidentified sources.

The Beijing-based bank, owned by China's biggest State-run investment company, is set to have a listing hearing with the Hong Kong stock exchange today, the report said. The lender will probably sell shares in the second quarter. CITIC Bank hired CITIC Securities Co, China International Capital Corp, Lehman Brothers, Citigroup and HSBC Holdings as underwriters.

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