China Everbright Bank Priced Its IPO at 3.10 Yuan

»China Everbright Bank has set the issue price of its initial public offering at 3.1 yuan per share, the top end of an indicative range, Xinhua news reported, citing a company statement.

»Via the IPO, the bank is expected to raise up to 21.7 billion yuan ($3.2 billion) to become the country’s second-largest listing of the year.

»According to the announcement, the strategic share allotment of the IPO could amount to three billion shares, accounting for 42.9 percent of the issuing volume of seven billion new shares should the greenshoe option be exercised.

»Off-line share allotment and on-line share allotment of the IPO could reach 1.55 billion shares and 2.45 billion shares respectively, occupying 22.1 percent and 35 percent of the total issuing after overallotment.