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Yibin City Commercial Bank Co is considering a Hong Kong initial public offering that could raise about $200 million to $300 million, according to people familiar with the matter.
The Chinese lender is working with CCB International Holdings Ltd and ICBC International Holdings Ltd to prepare for the first-time share sale, which could take place as soon as this year.
Considerations are preliminary and details of the offering such as size and timing could change, the people said.
If successful, Yibin City Commercial Bank would be the first bank to list in the Asian financial hub since Dongguan Rural Commercial Bank Co raised about $1.2 billion in its September 2021 IPO, according to data compiled by Bloomberg. Xiamen International Bank Co is considering a Hong Kong IPO that could raise about $1.3 billion, Bloomberg News reported.