Abu Dhabi investment firm Nexus Capital has invested $100 million in the IPO of Chongqing Rural Commercial Bank, a Chinese lender, according to Reuters and Chinese papers.
Chongqing Bank was established in June 2008. Based in Chongqing, China's most populous city, it had 62,000 corporate and 17.5 million retail customers. The bank had $39 billion of assets as of June 30.
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More details from the China Knowledge follows
Chongqing Rural Commercial Bank Co, a local rural commercial lender established in June 2008 in West China's Chongqing Municipality, has decided to increase the size of its planned initial public offering in Hong Kong by 9.2% as its shares attracted considerable investment from investors, sources reported.
Reportedly, the lender has increased the offering size to 2.19 billion H shares from the original 2 billion. Based on the indicative price range between HK$4.50 and HK$6.00 apiece, it expects to raise as much as HK$13.11 billion.
According to the report, Chongqing Rural Commercial Bank has introduced four cornerstone investors for its IPO that will subscribe US$240 million of shares in total.
Abu Dhabi-based Nexus Capital Investing Ltd will subscribe US$100 million of shares, while Hong Kong-based fund management firm Value Partners Group Ltd will subscribe US$80 million of shares, according to the report.
The life insurance unit of Taiwan-based Fubon Financial Holding Co Ltd and Chow Tai Fook Nominee Ltd, which is owned by business tycoon Cheng Yu-tung, each plans to subscribe US$30 million of shares.
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