China Minsheng Banking Corp, the country's first private lender, has received approval from the mainland banking regulator to sell shares in Hong Kong, more than three years after it abandoned a previous H-share fund-raising plan.

The Shanghai-listed lender is expected to issue about 2.5 billion H shares at 7.50 yuan (HK$8.51) to 8 yuan each, raising about 20 billion yuan, banking sources said.

Minsheng, founded in 1996, called off a plan to raise HK$6.86 billion by selling shares at HK$5.28 each in June 2005 as the market was cool to the lender's high valuations at the time. The bank said it was reviving the stock float plan to replenish capital and make it better cushioned against risks brought by aggressive loan expansion.