CMB to list in HK

China Merchants Bank is planning a US$1.29 billion June IPO on Hong Kong's stock exchange, the Wall Street Journal reported, citing sources close to the situation. China Merchants Bank, the sixth-largest commercial bank in China by assets, will be the first Chinese bank to list shares both domestically and overseas. Sources said Merrill Lynch & Co will underwrite the offering. The bank, which is listed on the Shanghai Stock Exchange, has completed its domestic share-overhaul plan, making all of its shares tradable.