Everbright Bank (601818.SH) delayed its H-share initial public offering (IPO) due to market fluctuations, reports China Securities Journal, citing an unnamed insider.

The insider said Everbright Bank is fully prepared for its IPO. Several large organizations, including global insurance companies, hedge fund companies and large-scale central government enterprises have signed contracts to subscribe shares in the bank.

When Hong Kong’s IPO market emerges from its slump, Everbright Bank’s IPO plan will finally be launched, the insider added.