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-China Guangfa Bank looking to raise capital.

Global Banking News-May 18, 2011--China Guangfa Bank looking to raise capital(C)2011 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 18 May 2011

China Guangfa Bank, in which Citigroup, Inc (NYSE: C) has a stake, is planning to raise capital through an IPO.

The bank is looking to raise USD5bn from listings in Shanghai and Hong Kong. The IPO is expected by the end of this year, or early 2012.

Citigroup, Inc will have a 20 per cent stake in the firm.

[Editorial queries for this story should be sent to gbn@enpublishing.co.uk]

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Publication:Global Banking News (GBN)
Date:May 18, 2011
Words:105
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