CITIC Bank sets A-Share subscription date

China CITIC Bank, which is planning the second ever simultaneous dual listing in H-shares and A-shares, said subscriptions for the A-share portion of its initial public offering will be offered between April 16-19. The Wall Street Journal reported that the bank plans to offer 2.3 billion A-shares in Shanghai and 4.89 billion H-shares in Hong Kong. The bank, China's seventh-largest by assets, did not say how much it aimed to raise but people familiar with the deal said the figure would be between US$4 billion – US$5 billion. The A-shares would account for about 6% of the bank's enlarged share capital. No date has been offered yet for subscriptions for the H-share portion of the listing, which will make up 12.76% of the bank's enlarged share capital. Industrial and Commercial Bank of China was the first Chinese firm to list simultaneously in both A- and H-shares last year in what is still the world's largest IPO.