China's Zheshang, Bank of Tianjin set for flat open in Hong Kong debut

Bank of Tianjin Co

30/03/2016 02:23

HONG KONG, March 30 (Reuters) - Shares of two mid-sized 
Chinese lenders were set to open flat on their Hong Kong debut 
on Wednesday after they raised a combined $2.6 billion last week 
through initial public offerings (IPOs) in the face of tepid 
investor demand. 
    China Zheshang Bank Co Ltd  2016.HK  was indicated to open 
at HK$3.96 compared with the HK$3.96 IPO price, while Bank of 
Tianjin Co Ltd  1578.HK  was indicated to start at HK$7.39 
versus offer price of HK$7.39. The benchmark Hang Seng index 
 .HSI  was indicated to open 0.9 percent up. 
    Zheshang Bank's IPO raised about $1.7 billion and Bank of 
Tianjin's IPO another $950 million, with both deals pricing near 
the bottom of expectations.  urn:newsml:reuters.com:*:nL3N16T3YK  urn:newsml:reuters.com:*:nH9N0V8013 
 
 (Reporting by Elzio Barreto; Editing by Stephen Coates) 
 ((elzio.barreto@thomsonreuters.com;)(852)(2843-1608; Reuters 
Messaging: elzio.barreto.thomsonreuters.com@reuters.net)) 
 
Keywords: CHINA BANKS/DEBUT