Two of China’s big state-owned commercial banks seeking listings as part of broad reform efforts are no longer considering flotations on the New York Stock Exchange (NYSE), a local newspaper said on Monday.
Citing sources close to the exchange, the Economic Observer said Bank of China, the country’s biggest foreign exchange lender, and China Construction Bank had abandoned plans to seek dual listings and would only float shares in Hong Kong.
Bank of China and China Construction Bank, not immediately available for comment, have not divulged the timing or venue of listings but said they hope to float shares this year.
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