Banks seeking to list turn to HK

With initial public offerings still suspended on the nation's exchanges, six domestic joint-stock and city commercial banks are planning to go public in Hong Kong.

The offerings, which are expected to reach 130 billion yuan ($21.2 billion), are being planned by China Everbright Bank Co Ltd, China Guangfa Bank Co Ltd, Bank of Shanghai Co Ltd, Huishang Bank Corp, Harbin Bank Co Ltd and Bank of Chongqing Co Ltd.

IPOs on mainland exchanges have been frozen for nearly a year. The banks, which are among the many companies waiting to go public, are under pressure to raise new capital.