First Hong Kong listing for regional rural bank

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    Chongqing Rural Commercial Bank (Chongqing Bank) has raised US$1.48 billion from its initial public offering (IPO) on the Hong Kong Stock Exchange. The…

    Chongqing Rural Commercial Bank (Chongqing Bank) has raised US$1.48 billion from its initial public offering (IPO) on the Hong Kong Stock Exchange. The issuer is the first regional rural commercial bank in China to seek a Hong Kong listing. The underwriters were Morgan Stanley and Nomura.

    Chongqing Bank primarily serves the rural community of Chongqing municipality in west China. It was established in 2008.

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