China Everbright Bank set to slip in HK debut after $3 bln deal


HONG KONG, Dec 20 (Reuters) - China Everbright Bank Co Ltd is set to fall 0.8 percent in its Hong Kong trading debut on Friday, after the mid-sized lender raised $3 billion in a share offering priced near the bottom of expectations.

Shares in China Everbright Bank were indicated to open at HK$3.95, below its offering price of HK$3.98, according to Hong Kong stock exchange data. The bank had marketed the deal in a range of HK$3.83 to HK$4.27 per share.

The lending arm of state-backed China Everbright Group exercised last week an option to sell an additional 762 million shares on top of the base size of 5.08 billion shares, bringing the total deal value to HK$23.25 billion ($3.0 billion).

Shanghai-listed China Everbright Bank's debut marks a successful listing in Hong Kong after two previous attempts faltered on poor demand amid volatile markets.

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