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Guangzhou Rural Bank set to open flat in HK debut after $1 billion IPO

Reuters  |  HONG KONG 

HONG KONG (Reuters) - Shares in Guangzhou Rural Commercial Bank Co Ltd (GRCB) were set to open flat in their debut on Tuesday as mom and pop investors shied away from the largest initial public offering (IPO) in Hong Kong so far in 2017. China's No.5 rural commercial bank by assets was indicated to open at HK$5.12, compared with the HK$5.10 IPO price. The benchmark Hang Seng index was poised to open 0.4 percent higher.GRCB priced the $1 billion IPO slightly below the middle of its marketing range of HK$4.99 to HK$5.27 per share. Demand from retail investors - who have a significant ...

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First Published: Tue, June 20 2017. 08:38 IST