Weihai City Commercial Bank kickstarts HK$3.1bn IPO

By Jonathan Breen
29 Sep 2020

China’s Weihai City Commercial Bank has launched its Hong Kong IPO and is aiming to raise HK$3.1bn ($397.3m) from the deal.

The state-backed lender is floating 877.3m H shares, equal to 15% of its enlarged share capital. It wants to raise money to boost its capital base and support future growth.

The bank has lined up CICC, CMB International and Huatai Financial to lead the deal as the sponsors ...

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