Hong Kong IPO update

Chongqing Rural Commercial Bank, which will trade under the listing code 3618, set a price range of HK$4.50-6.00 per share for its Hong Kong IPO, aiming to raise up to HK$12 billion (US$1.5 billion), according to a term sheet seen by Reuters.Chongqing Rural Commercial Bank planned to issue 2 billion shares, the term sheet said. Morgan Stanley and Nomura Holdings are handling the sale.

Huaneng Renewables Corporation priced its’ Hong Kong IPO at HK$2.98-3.98 per share to raise up to US$1.3 billion, according to its term sheet seen by Reuters.Huaneng Renewables plans to issue 2.486 billion shares, the term sheet said. Morgan Stanley is the sole global coordinator.

Source:Reuters,SCMP