Bank of Tianjin plans $1.23 bln HK IPO, taps $560 mln from cornerstones -IFR

March 14, 2016 9:47 AM

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HONG KONG, March 14 City commercial lender Bank of Tianjin Co Ltd plans to raise up to $1.23 billion in a Hong Kong initial public offering, IFR reported on Monday, citing people close to the deal.

The bank plans to sell 996 million shares in an indicative range of HK$7.37 to HK$9.58 each, putting the total deal at HK$9.54 billion ($1.23 billion), reported IFR, a Thomson Reuters publication.

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