HSBC appoints underwriters for Shanghai IPO
Published: 04 Aug 2009 00:15:00 PSTSHANGHAI, Aug 4 - HSBC Holdings Plc, Europe's biggest bank, said on Tuesday that it had appointed underwriters for an initial public offering in Shanghai, without giving names.
China International Capital Corp and Citic Securities Co had been appointed as bookrunners on HSBC's planned IPO in 2010 worth $3 billion to $5 billion, Dow Jones News wire reported.
Four investment banks, including UBS AG and Goldman Sachs, had been bidding for the mandate, a person with direct knowledge of the situation told Reuters.
HSBC said earlier that it aimed to sell yuan-denominated A shares on the mainland to help fund expansion in the world's fastest-growing major economy. (US$1=6.832 Yuan)
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