It is being reported that China Development Bank Financial Leasing hopes to raise as much as $978 million in a Hong Kong initial public offering (IPO). Some 79% of the offering will be offered to cornerstone investors, which have been identified as including: China Reinsurance Group, China State Shipbuilding, Guangdong Hengjian Investment Holding, Bank of China Group Investment, China Communications Construction and state-owned power generator China Three Gorges. The latter is reported by Reuters to be planning to purchase about 42 percent of the IPO stock. CDB Leasing is offering 3.1 billion new shares at HK$1.90 to HK$2.45 each. The

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