World Economy

Tianjin Bank Planning $1b IPO

Tianjin Bank Planning $1b IPO  Tianjin Bank Planning $1b IPO

Chinese city commercial lender Bank of Tianjin is reportedly planning an initial public offering in Hong Kong in H1 of 2016 with the aim of raising up to $1 billion, AsiaFirst reported. A Wall Street Journal report said that the Bank of Tianjin has hired banks for its IPO, with the size of the listing dependent on market demand. According to the report, the listing could be the biggest IPO for any Chinese commercial bank since December 2014, when Shengjing Bank raised $1.5 billion. The IPO plan comes at a time when Chinese banks are struggling in the stock market mainly due to worries of bad loans and weak balance sheets.