Guangdong Development Bank is advancing plans to go public in the second half of this year or early 2012 and could raise as much as $4bn, said bankers familiar with the matter.
The Chinese lender has spent the past two weeks soliciting ideas from potential underwriters and may select the bank group as soon as next week.
Citigroup, which acquired a 20 per cent stake in GDB in 2006, has not yet determined whether it will try to sell down its stake, these people add.
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