China Everbright Bank (601818.SHA) announced on Wednesday that has been granted approval by the China Securities Regulatory Commission to sell up to 12 billion shares overseas, Bloomberg reported, citing a statement to the Shanghai Stock Exchange. Once the sales have been sold, the company will then be able to apply to list its shares on the Hong Kong stock exchange. The lender planned to raise up to US$6 billion from a sale to Hong Kong but scaled it back to around US$1.7 billion and finally delayed the offering in August 2012.
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