China Everbright Bank to launch $2.8 bln Hong Kong offer on Tuesday

Reuters

(Corrects the maximum deal value in the second paragraph)

HONG KONG, Dec 9 (Reuters) - China Everbright Bank Co Ltd said it will launch an up to $2.8 billion Hong Kongshare offering on Tuesday to raise funds to bolster its balancesheet.

The Shanghai-listed bank aims to sell 5.1 billion shares atan indicative price of HK$3.83 to HK$4.27 each, the mid-sizedChinese lender statement said in a statement on Monday. Thatwould make the deal worth up to HK$21.8 billion ($2.8 billion).

China Everbright Bank received commitments worth $1.74billion from 19 so-called cornerstone investors including ChinaShipping (Group) Co and Prudential Financial Inc, its prospectus showed.

China Everbright Securities, China International CapitalCorp (CICC), Morgan Stanley and UBS AG werehired as joint global coordinators.

($1 = 7.7543 Hong Kong dollars) (Reporting by Elzio Barreto; Editing by Denny Thomas andChristopher Cushing)

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