China Everbright Bank

China Everbright Group is a state-run financial conglomerate. Its operations include China Everbright Ltd, which listed in Hong Kong in 1997 with the stock code 165, and China Everbright Bank. Another unit, brokerage China Everbright Securities, was penalised in August 2013 after a trading glitch caused a spike of more than 5 per cent in China’s stock indexes on August 16.

Everbright overhaul seen as part of wider reform of state firms

The restructuring could let China Everbright Bank benefit from group-wide efficiencies and an enhanced financing capacity. Photo: Bloomberg

China Everbright Group's shareholding restructuring, and a planned flotation of assets not already listed, is aimed at improving its transparency, governance and efficiency.

Wednesday, 12 November, 2014, 10:42am

JPMorgan stops work on Chinese firm's US$1 billion IPO amid concerns over hiring

JPMorgan's hiring practices in Hong Kong and the mainland have come under regulators' scrutiny. Photo: Reuters

For the second time in three months, JPMorgan Chase has ceased working on a major Chinese initial public offering amid a US investigation into the Wall Street giant’s hiring practices.

21 Jan 2014 - 4:49pm

China Everbright's not so bright on trading debut

The tapering of the US monetary easing has put the Hong Kong market under pressure. Photo: Bloomberg

Five new listings made their debuts on the Hong Kong stock exchange yesterday, with China Everbright Bank, the largest flotation of the year, performing the worst.

21 Dec 2013 - 1:47am

Everbright can meet China capital rules

All the proceeds from Everbright's IPO will go to replenishing its capital base, as it strives to comply with tighter mainland rules. Photo: AFP

China Everbright Bank, a Beijing-based lender making its third tilt at a Hong Kong flotation, says it will be able to meet more stringent mainland capital requirements within two years after raising fresh equity capital.

10 Dec 2013 - 2:39pm

Hong Kong listing a milestone for Everbright Bank chairman

Tang Shuangning

The listing of China Everbright Bank in Hong Kong has a double significance for its chairman, Tang Shuangning. Tang, a former vice-chairman of the China Banking Regulatory Commission, will reach the official retirement age of 60 next year.

2 Dec 2013 - 5:19am

JPMorgan pulls out of China Everbright Bank's Hong Kong share sale

China Everbright Bank has lost one of the bookrunners for its Hong Kong share sale, JPMorgan Chase, sources say. Photo: Reuters

JPMorgan Chase has pulled out of a syndicate of banks working on China Everbright Bank's US$2 billion share sale in Hong Kong, two people familiar with the matter said.

20 Nov 2013 - 2:55am

Everbright talks signal year-end listing

China Everbright Bank is making its third attempt to complete a long-planned H-share sale by issuing 12 billion shares. Photo: AFP

China Everbright Bank, which received the go-ahead for a listing from the Hong Kong stock exchange late last month, held a meeting with its syndicate bankers in Beijing yesterday, two people familiar with the deal said, prompting speculation of a year-end listing that would raise up to US$4 billion.

14 Nov 2013 - 3:57am

Banks will not end connected hiring

One banker says lenders in the mainland and Hong Kong like to hire second generations from the established families. Photo: Bloomberg

Banks have no plans to change their policy of hiring so-called princelings or other well-connected people to help grow their business on the mainland or in other emerging markets - despite the shockwaves caused by news that United States regulators are investigating JP Morgan's hirings of the children of the elite in China.

16 Sep 2013 - 7:12am

Chinese firms in Hong Kong may be new paradises for 'princelings'

The JP Morgan case attracted attention on the mainland where the public is already angry about corruption within the ruling party. Photo: Reuters

It's a season of change in Hong Kong. Change what? Quietly changing jobs for some important people. The US government announced last month that it would investigate JP Morgan's Hong Kong hiring practices relating to job offers for children of some important people on the mainland, and as a result, several such "important kids" working for other foreign banks are now seriously considering new jobs.

16 Sep 2013 - 7:20am 2 comments

JP Morgan Chase faces US probe for hiring Chinese princelings

JP Morgan Chase is being investigated by US authorities over claims the bank hired the children of influential Chinese officials to secure business in the country. Photo: AFP

JP Morgan Chase was caught in the spotlight yesterday after media reports suggested the bank hired sons and daughters of senior Chinese officials in the hope of winning deals from major state-owned enterprises.

The revelation of JP Morgan's hiring of the son of China Everbright Group's chairman and a former railway official's daughter comes at a sensitive time for Sino-US relations.

19 Aug 2013 - 3:51pm 18 comments

Everbright to double size of Hong Kong share sale

Everbright is seeking a cornerstone subscription of at least 60 per cent of the offering before opening to retail investors. Photo: AFP

China Everbright Bank, which is preparing for its third official listing attempt, plans to double the size of its long-planned Hong Kong offering to up to US$4 billion by selling 12 billion shares.

5 Jun 2013 - 4:05am

Cash-strapped Chinese banks turn to Hong Kong

China Everbright Bank is likely to be the first to ready for a Hong Kong listing.

Mainland banks are reviving their listing plans to raise money in Hong Kong this year as Beijing continues to keep an indirect hold on onshore initial public offerings.

25 Apr 2013 - 5:38am

Signs of new life in I.P.O. market

China Everbright Bank is making its third attempt to tap the Hong Kong market. Photo: Bloomberg

Hong Kong's dismal listings market has shown signs of a nascent recovery with some municipal-level mainland lenders and brokerage houses signalling they will retry offerings amid improving sentiment.

5 Apr 2013 - 5:10am

Municipal bank IPOs beckon for local bourse

Bank of Shanghai. Photo: Bloomberg

In 2001, Bank of China listed its Hong Kong operations on the local exchange, and it was good. Regulators then gave their blessing for the Hong Kong listings of Bank of Communications, China Construction Bank, ICBC and Agricultural Bank of China, and investors rejoiced. It was a great 10-year run, in which Beijing bestowed on the local market giant IPOs that made investors a lot of money.

4 Mar 2013 - 4:08am

Bank of Shanghai, China Everbright plan to go public in Hong Kong

Bank of Shanghai may launch the offer in late May. Photo: Bloomberg

Boosted by a recovery in valuations among listed mainland banks since early September, the share offers could go ahead as soon as the second quarter, say people familiar with the plans.

21 Feb 2013 - 6:07am