China Everbright Bank to go public soon

China Everbright Bank, Everbright Group's banking unit, will go public in Shanghai in July or August, Everbright Group said yesterday.

The bank will issue more than 820 million A shares, accounting for 10 percent of its enlarged share capital, said Everbright Group, a State-owned financial conglomerate.

The bank may float shares on the Hong Kong stock exchange if its Shanghai IPO is successfully completed before the 2008 Olympic Games.