Following the dual-listing model of Industrial and Commercial Bank of China in 2006, China CITIC Bank is going to float its H- and A-shares simultaneously in Hong Kong and Shanghai next month. CITIC, the country's seventh-largest commercial money lender, is set for a listing hearing in Hong Kong scheduled for this Thursday, Forbes reported. Merchant bankers close to the deal said CITIC will list on both exchanges in April, hoping to raise between US$2.8 billion and US$3 billion. Kong Dan, chairman of CITIC International Financial Holdings, which owns 15.17% of the bank, said the company plans to maintain over 15% of shareholdings.
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