China Everbright Bank, which is waiting for a US$2.69 billion (RMB20 billion) capital boost from the government, is seeking foreign strategic investors ahead of a likely US$1 billion public listing expected to take place next year, the Oriental Morning Post
reported. State-owned Central Huijin Investment Co agreed in August to buy 20 billion new shares of Everbright Bank at US$0.13 (RMB1) each. China’s eighth largest bank has hired China International Capital Corp and Morgan Stanley to search for investors. According to Shanghai Securities News
, Everbright’s unaudited profit in the first three quarters of the year was US$534.50 million (RMB3.97 billion). Full year profits of US$673.17 million (RMB5 billion) are projected.