Latham & Watkins and King & Wood Mallesons are advising China’s Huishang Bank Corp. on its $1.2 billion initial public offering in Hong Kong.
The lender, based in the central province of Anhui, yesterday priced 2.61 billion shares at $0.46 apiece, according to Bloomberg, who cited sources familiar with the matter. The shares are expected to begin trading on the Hong Kong Stock Exchange Nov. 12.
Huishang serves corporate and retail clients through 199 branches in Anhui, as well as nearby Nanjing in Jiangsu province. The bank is raising the money in order to strengthen its capital base so it can further grow its business, according to a prospectus.
