China Everbright Bank has deferred its $6 billion Hong Kong share offering, Reuters reports. The deal has been postponed due to unfavorable global equity market conditions. The size of the offering could be cut to between $2.5 billion and $3 billion and the lender, which has got $1.2 billion from cornerstone investors, may launch the issue in September. China Everbright Capital, China International Capital, Morgan Stanley, JP Morgan, UBS, BNP Paribas, BOC International, HSBC and Shenyin Wanguo were appointed to manage the offer.
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