OREANDA-NEWS. Huishang Bank, a bank based in China's Anhui province, plans to launch an initial public offering (IPO) in Hong Kong, Reuters reported on Wednesday, citing IFR.

The bank is looking to go public in Hong Kong, where it is likely to raise as much as USD 1.5 billion. The deadline for it to submit the listing application is June 8, the report said.

Previously, Huishang planned to raise about 10 billion yuan (USD 1.63 billion) from a Shanghai IPO, according to the London-based news agency.