HK-listed Huishang Bank climbs, plans Shanghai listing

Huishang Bank

31/12/2018 03:51

** Shares of Huishang Bank Corp Ltd  3698.HK  rise as much
as 2.1 pct to HK$3.42, after two straight sessions of declines
    ** Stock down 13.1 pct this year, heads for its biggest
yearly percentage decline since listing in Nov 2013
    ** Bank proposes to apply for an initial public offering and
listing of up to 1.5 bln A shares in Shanghai as it aims to
develop domestic and international financing platforms and
improve liquidity of its shares (https://bit.ly/2VkqMFi)
    ** Based on stock's Dec 28 close of HK$3.35, the IPO would
raise up to HK$5.02 bln ($642 mln)  urn:newsml:reuters.com:*:nL3N1Z013M
    ** Huishang Bank has outperformed the Hang Seng Finance
Index sector  .HSNF  by 3.4 percentage points in the past month

($1 = 7.8311 Hong Kong dollars)

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)