China Everbright Bank, Everbright Group's banking unit, will go public in Shanghai in July or August, Everbright Group said yesterday.

The bank will issue more than 820 million A shares, accounting for 10 percent of its enlarged share capital, said Everbright Group, a State-owned financial conglomerate.

The bank may float shares on the Hong Kong stock exchange if its Shanghai IPO is successfully completed before the 2008 Olympic Games.