Everbright shares sink on debut
By Emma Dai in Hong Kong and Gao Changxin in Shanghai | China Daily | Updated: 2013-12-21 07:57
Price declines nearly 3 percent at closing in HK
The shares of China Everbright Bank Co Ltd, which raised HK$20 billion ($3 billion) in the biggest initial public offering this year, sank nearly 3 percent in their debut on Friday on the Hong Kong stock exchange, reflecting investor concern over the outlook for China's banking sector.
The shares closed at HK$3.87, down 2.76 percent on the offer price. Everbright, based in Beijing, is the 11th-largest bank on the Chinese mainland by market capitalization. It was the last large State-owned company to list in Hong Kong in 2013.
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