After having twice suspended plans to list in Hong Kong, Minsheng Bank is finally on course to see its shares begin trading on the Hong Kong stock exchange on November 26.

As the first private lender on Chinese mainland, Minsheng's initial public offering (IPO) in Hong Kong has stirred up a buying frenzy among investors, as the tranche for international investors doubled on the first day of the roadshow on November 9.

Five cornerstone investors have committed to take up a combined US$340 million worth of shares, including Ping An Insurance, China Overseas Holdings Limited, Glorious Sun Group's chairman Yang Zhao, Chinese Estates Group and RT-Mart.

Many other institutional and individual investors are also vying for the shares. George Soros has shown great interest and plans to invest between US$50 million to US$100 million. The world famous financier recently paid US$200 million for stake in Chongqing-based developer Longfor Properties.

The issue also attracted participation of two Hong Kong tycoons--Liu Xikang, who is set to buy a stake worth up to HK$100 million, and Yangtzekiang Garment's Cheng Yongqi.

In addition, three Middle East funds will subscribe US$1 billion. They include Prince Alwaleed Bin Talal who was also a major individual investor when Industrial and Commercial Bank of China (ICBC) and Bank of China went public on the Hong Kong stock exchange.

CIIC, Chinalife, and Zijin Mining also plan to pay US$100 million for stakes in the IPO.

Minsheng Bank will begin trading on the Hong Kong bourse on November 26, making it the seventh China's mainland company listed in Hong Kong. If the shares reach their indicative price range of HK$8.5-HK$9.5, the bank will raise HK$28.23 billion to 31.56 billion, making it the largest IPO in Hong Kong this year and the fourth largest IPO of 2009 globally.

As of yesterday, Minsheng Bank shares on the Shanghai stock exchange rose to 8.12 yuan, the sixth consecutive day of gains.