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Finance

China Bohai Bank seeks $1.8bn in Hong Kong's biggest IPO of 2020

Move shows how city set to remain key fundraising hub for mainland companies

HONG KONG -- China Bohai Bank began marketing up to $1.85 billion in stock in Hong Kong on Tuesday in what will be the biggest initial public offering of the year so far in the city.

Coming the same day Chinese President Xi Jinping signed a controversial new national security law for the city, the IPO by the lender backed by Britain's Standard Chartered Bank underscores how the city is set to remain a key fundraising hub for mainland companies even as foreign governments criticize the legislation as undermining the autonomy that helped make the city a top global financial center.

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