Standard Chartered will launch its long-awaited Hong Kong listing and new share offer on Monday, with the shares scheduled to make their trading debut on October 31. Details on pricing and the size of the issue will be released on Sunday. In yesterday's announcement confirming the listing plan, group chairman Sir Patrick Gillam said it would represent the first time a major London-listed company had launched a dual listing in Hong Kong. With most securities' houses included in a 20-member underwriting syndicate appointed to distribute the issue, few bank analysts could comment on the issue. Among the few houses not participating in the issue, however, was Credit Lyonnais Securities, and its regional banks' analyst Andrew Reynolds said the listing was likely to attract 'some good support'. 'It will present a reasonable alternative to HSBC as a pan-Asian bank, though the local float will be small and will probably not be in the Hang Seng Index,' he said. Other analysts said Standard Chartered's focus on consumer banking in emerging markets presented a defensive play for bank investors. Goldman Sachs will act as bookrunner and joint lead manager of the institutional offer, and sponsor of the Hong Kong public offer, with Cazenove Asia acting as joint lead manager of the institutional offer and co-sponsor of the public offer. The bank has said it will issue no more than 5 per cent of its existing capital base, but signals sent to analysts in recent weeks have indicated a smaller issue of around 3 per cent. That could see somewhere between 29 million and 30 million new shares issued, which would raise between US$314 million and US$325 million in fresh capital, based on the price of 700 pence at which the share was trading on the London market yesterday.