Harbin Bank is scheduled to apply as early as next week for an initial public offering in Hong Kong to raise up to US$1 billion, according to sources, South China Morning Post reported. If its application is successful, the commercial lender based in northeastern China’s Heilongjiang province would launch its share offering in the middle of the year, depending on market conditions. The deal could herald a new wave of mainland bank IPOs in Hong Kong in the coming months, as capital-hungry banks seek to raise funds in the city.
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