China Bohai Bank Raises $1.78 Billion in its IPO

China Bohai Bank held its initial public offering in Hong Kong raising a total of $1.78 billion from the event held on July, 9. So far this was the largest amount raised from an initial public offering held in Hong Kong market this year.

This information was revealed by insider sources who declined being revealed since details on the IPO are yet to be availed to the public.

Earlier the commercial bank had announced it would be issuing 2.88 billion shares in the IPO pricing them at HK$4.75 to HK$4.98 per share. The exact IPO price is yet to be established also since the bank is yet to reveal the information.

This IPO attracted multiple investors among them Cornerstone Investors who acquired 30% stake of the company. Yichang Health Pharmaceutical, was the largest investor among Cornerstone investors, the company purchased stock worth $200 million.

Four other capital management companies each bought $50 million worth of stake.

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