Weihai City Commercial Bank seals HK$2.9bn listing

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By Jonathan Breen
07 Oct 2020

Weihai City Commercial Bank has bagged HK$2.9bn ($374.2m) after pricing its IPO at the bottom of the marketed range, according to a source close to the deal.

The Chinese state-backed lender is listing 877.3m H-shares, equal to 15% of its enlarged share capital. 

IPO sponsors CICC, CMB International and Huatai Financial launched the deal last week, marketing the stock at HK$3.35 to HK$3.51 per share. The trio wrapped up the roadshow on Tuesday, before pricing ...

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