Chinese lender Zhongyuan Bank set to open 2.9 pct higher in HK debut

Zhongyuan Bank

19/07/2017 02:20

HONG KONG, July 19 (Reuters) - Shares in Zhongyuan Bank Co 
Ltd, the largest city commercial bank in central China's Henan 
province, were set to open 2.9 percent higher in their trading 
debut on Wednesday after the lender raised $1 billion in an 
initial public offering. 
    The stock  1216.HK  was indicated to open at HK$2.52, 
compared with the HK$2.45 IPO price. The benchmark Hang Seng 
index  .HSI  was poised to open 0.1 percent higher. 
    Zhongyuan Bank priced the 3.3 billion shares on offer near 
the bottom of the IPO's marketing range of HK$2.42 to HK$2.53 
per share. The bank issued 3 billion new shares, with the 
remainder coming from 62 state-owned existing shareholders on 
behalf of China's National Council for Social Security Fund. 
 
 (Reporting by Elzio Barreto; Editing by Stephen Coates) 
 ((elzio.barreto@thomsonreuters.com;)(852)(2843-1608; Reuters 
Messaging: elzio.barreto.thomsonreuters.com@reuters.net)) 
 
Keywords: ZY BANK LISTING/