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Everbright back in HK IPO pipeline

(Global Times)

08:11, May 09, 2012

China Everbright Bank Co has resumed its Hong Kong initial public offering plans in a bid to meet capital requirements and is expected to start selling shares in the region by July at the earliest, according to a source close to the deal.

The bank was scheduled to list in Hong Kong on July 15, seeking to raise about $6 billion in the process, but delayed its plan due to weak market sentiment.

The bank's capital adequacy ratio hit 10.67 percent in the first quarter, close to China's requirement of 10.5 percent, according to a recent financial report.

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