Bank of Shanghai unveiled details of its long-awaited initial public offering on Tuesday, targeting as much as Rmb10.7 billion $1.59 billion from its local stock market in what could be China’s biggest IPO this year.
The floatation of China’s second biggest city commercial bank by assets has been in the making for more than four years, ever since the lender announced its intention to go public in April 2012. But the plan has stalled several times, partly because of China’s 15-month long IPO suspension between 2012 and 2014, and a further four-month halt between July and November last year.
Bank executives had initially planned to list in...
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