China Guangfa Bank has appointed a consortium of underwriters for its Hong Kong-Shanghai dual listings, Business China reports. The Chinese mid-sized commercial lender may raise $4 billion in an initial public offering (IPO) in the third quarter of 2011.
Bank of America, Citigroup, Deutsche Bank and Goldman Sachs are the joint global coordinators for the Hong Kong offering. Citic Securities will manage the Shanghai tranche of the sale for the bank, formerly called Guangdong Development Bank. Credit Suisse and Macquarie Group will be the joint book-runners for the Hong Kong offer.
