China's Everbright Bank to seek investment from Standard Chartered - report |
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Published
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Wed, 10 Jan 2007 00:32
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BEIJING (XFN-ASIA) - Everbright Bank is planning to invite Standard Chartered to make a strategic investment, the official Shanghai Securities News reported, citing a source.The newspaper did not give further details. It said both parties did not provide comment when approached by the paper.Reports have said that Everbright Bank may list in Hong Kong in the first half of 2007, raising about 2-3 bln usd, and that it has appointed advisors for the planned IPO.A source told XFN-Asia earlier that China's Cabinet has approved a more than 20 bln yuan capital injection for the bank, which could pave the way for introducing foreign strategic investors and carrying out an initial public offering.(1 usd = 7.8 yuan)kai.guo@xfn.com
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