Harbin Bank HK IPO to raise funds for micro loans
chinagate.cn by Jiao Meng, April 3, 2014 Adjust font size:
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A Heilongjiang Province-based bank listed on the Main Board of the Hong Kong Stock Exchange on Monday, with the stock code 6138.
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A Heilongjiang Province-based bank listed on the Main Board of the Hong Kong Stock Exchange on Monday, with the stock code 6138.
Harbin Bank Co., Ltd, the third city commercial bank on the Chinese mainland which sought a public stock offering in Hong Kong, offered a total of 3,023,570,000 H Shares at an initial price of HK$2.9.
The net proceeds of the global offering of Harbin Bank were estimated to be approximately HK$7,722 million, which made it the biggest listing in Asia this year.
The company expects to use the net proceeds from the global offering to strengthen its capital base to support the growing business in micro loans for SMEs and agriculture-related fields.
Harbin Bank Co., Ltd. is the second largest commercial bank in Heilongjiang Province, the largest commercial bank in Harbin in terms of total assets and largest in terms of net profit.
