By Carrie Chen
HONG KONG (Jan 18) -- Shares of Bank of Gansu began trading in Hong Kong at HK$2.83 compared with their initial public offering price of HK$2.69, after the Chinese city commercial bank raised about HK$5.95 billion ($761 million) in gross proceeds from the issue.
The stock climbed as high as HK$2.86 in the opening minutes, and was at HK$2.81 as of 9:34 a.m. More than 67 million shares had changed hands. The lender, based in China's northwestern province of Gansu, earlier saw its 2.21-billion-share IPO priced at the mid-point of an indicative range of HK$2.61 to HK$2.77 apiece.
- By Carrie Chen; Carrie.Chen@NikkeiNewsrise.com; +852 39605153
- Edited By V.Phani Kumar
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