China Bohai Bank has raised HK$13.8 billion in a Hong Kong initial public offering, Reuters reported on July 10, citing sources. The company sold 2.9 billion shares at HK$4.80 per share, compared to the marketed price range of HK$4.75 to HK$4.98.
The national joint-stock commercial bank counts Standard Chartered as its second-largest shareholder with a 20% stake. After the IPO, Standard Chartered's stake will fall to 16.7%.
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