Aug 18 - China Everbright Bank 601818.SS opened at 3.37 yuan ($0.50) on its first day of trade in Shanghai on Wednesday, up 8.7 percent from its IPO price of 3.10 yuan.
Analysts surveyed by Reuters estimated Everbright shares would rise up to 5 percent on their first day of trade, as renewed worries over the banking sector's health sap some demand among investors towards China's No. 11 lender. [ID:nTOE67F082]
Everbright Bank could raise as much as 21.7 billion yuan in China's second-biggest IPO this year if it exercises a greenshoe, or over-allotment option.
The mid-sized lender sold 6.1 billion shares in the offering, which could be expanded to 7 billion shares with the over-allotment.
The benchmark Shanghai Composite Index .SSEC was up 0.1 percent. ($1=6.77 yuan) (Reporting by Farah Master and Soo Ai Peng; Editing by Jason Subler)