Receive $80 Grab vouchers valid for use on all Grab services except GrabHitch and GrabShuttle when you subscribe to BT All-Digital at only $0.99*/month.
Find out more at btsub.sg/promo
[HONG KONG] China International Capital Corp (CICC), the country's top domestic investment bank, has filed for an initial public offering in Hong Kong that could be worth up to US$1 billion, people with direct knowledge of the plans said.
The filing sets the ball rolling for a flotation expected to take place as early as September, Thomson Reuters publication IFR reported.
A Beijing-based spokeswoman for CICC declined to comment.
CICC itself and ABC International are leading the offering. The company has as its majority shareholder Central Huijin Investment Ltd, a unit of China's US$747 billion sovereign wealth fund. Other shareholders include Singapore's sovereign wealth fund GIC Ltd and private equity firms TPG Capital Management LP and KKR & Co.