China Everbright Bank (601818.SHA), China’s 11th largest lender by market value, is looking to gain as much as US$2.8 billion in its Hong Kong listing, which is the set to be the biggest first-time share sale this year, Bloomberg reported. The Beijing-based bank joins Huishang Bank (3698.HKG) and Bank of Chongqing (3618.HKG) in raising funds as regulators want banks to strengthen their balance sheets as slowing economic growth may lead to an increase in bad debt. The lending unit of state-controlled Everbright is offering 5.08 billion new shares at US$0.49 (HK$3.83) to US$0.55 (HK$4.27) apiece.
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