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Sovereign Wealth Funds Briefing - Categorized | Financials, Market

Everbright IPO to raise up to $3.21 bln

Posted on 13 August 2010

From WSJ: China Everbright Bank Co., owned by Central Huijin Investment Ltd., the domestic investment arm of China’s sovereign-wealth fund, aims to raise up to 21.7 billion yuan ($3.21 billion) in its initial public offering in Shanghai, after setting a 2.85 yuan-3.10 yuan price range for the share float, said a person familiar with the situation Friday.
The midsize bank is expected to price its IPO at the top end of the range, as most major Chinese stock listings have fetched a higher-than-expected valuation, benefiting from ample liquidity in China’s financial system and an improved stock-market climate, analysts say……………………………………….Full Article: Source


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