Everbright 'lining up investors' for share sale

China Everbright Bank Co, which scrapped a Hong Kong stock offering last year, is lining up investors to buy as much as half of a $1.8 billion share sale that may take place as soon as this month, two people with knowledge of the matter said.

The so-called cornerstone investors may buy about $900 million of the shares sold in Hong Kong, said the people, who asked not to be identified because the information is private. Not all of the investors have signed binding agreements yet, according to another person with knowledge of the offering.

Everbright, which is already traded in Shanghai, plans to sell about 4 billion new shares, the people said.

Agencies - China Daily