The Bank of Communications, China’s fifth-biggest state-owned commercial bank, plans to sell shares in Hong Kong as early as next month, state media reported Friday.
The initial public offering by the Shanghai-based bank is one of a spate of multibillion-dollar (euro) share listings by mainland based companies seeking to raise cash overseas.
Roughly $7 billion worth of China IPOs are expected in Hong Kong over the next couple of months, starting with Chinese coal producer China Shenhua Energy Co., which could raise as much as $3.63 billion if shares sell at the top end of its pricing range.
