Mid-sized lender China Everbright Bank Co Ltd could raise up to $2.8 billion by listing in Hong Kong, IFR reported on Thursday citing people familiar with the plans.

The Chinese bank aims to sell 5 billion shares at an indicative range of 3.03 yuan to 3.38 yuan each, equivalent to HK$3.86 to HK$4.30, reported IFR, a Thomson Reuters publication.

That would make the deal worth up to HK$21.5 billion ($2.8 billion).

The price range values China Everbright Bank at a 2013 full-year forecast price-to-book ratio of 0.9-1.0 times, IFR reported.

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