Reuters exclusively reports China Everbright Group to restructure, pursue billion-dollar HK IPO

Reuters reported exclusively that state-owned financial conglomerate China Everbright Group aims to restructure its sprawling business and pursue a billion dollar IPO next year in Hong Kong. While the offering size has yet to be finalized, the IPO will likely be at least in the billion-dollar bracket, Reuters sources said. Another source estimated that Everbright, backed by sovereign wealth fund subsidiary Central Huijin Investment Ltd and China’s Ministry of Finance, could raise up to $3 billion.