BEIJING -- China Everbright Bank announced that it has gained approval from the China Securities Regulatory Commission to issue shares in Hong Kong, according to a company statement filed to the Shanghai Stock Exchange on Thursday.

The bank will issue about 12 billion shares overseas, with a share face value of 1 yuan ($0.16), and will list on the Hong Kong Stock Exchange after issuing the shares, the statement said.

"The listing still needs approval from the Hong Kong Stock Exchange and relevant information will be disclosed in a timely manner," said the bank.