Dongguan Rural Commercial Bank raises $1.2bn via Hong Kong IPO


Source: retailbankerinternational.com retailbankerinternational.com

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Dongguan Rural Commercial Bank raises $1.2bn via Hong Kong IPO By Verdict Staff DRC Bank had priced each share at HK$8.71. Credit: Photo by Michael Longmire on Unsplash. Share Article China’s Dongguan Rural Commercial Bank (DRC Bank) has reportedly raised $1.2bn (HK$9.1bn) in its Hong Kong initial public offering (IPO). DRC Bank priced each share at HK$7.92, which is at the lower end of the marketed range, Bloomberg reported citing people familiar with the matter. Initially, the lender had marketed 1.15 billion shares for HK$8.71, the report added. DRC Bank, which is based in the Pearl River Delta region, plans...