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Bank eyes $1b listing

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KWONG On Bank is preparing for a $1 billion listing in Hong Kong in the first half of next year.

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The plan is believed to be in response to calls from shareholders of the Leung family - siblings of the bank's founder - to realise the value of their shareholding.

The bank is jointly owned by Fuji Bank, which has a 55 per cent stake, and Leung family members.

It is believed Schroders Asia would be the sponsor and lead underwriter and SBC Warburg would be co-underwriter.

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