Around ten per cent of its enlarged share capital totalling 820 million A shares will be issued to potential investors as part of the Initial Public Offering (IPO).
However, the bank has put on hold the search for a suitable strategic investor due to the current state of financial markets; however this process is likely to restart in the third quarter.
Should the Shanghai IPO go well, then there are plans to realize a listing in Honk Kong, but vice-president Xie Zhichun told China Daily that there was "no timetable" for this.
"The board may enlarge the A-share issue further to more than ten percent of the enlarged share capital as we don't know whether we can realize a Hong Kong listing or not," he said.
"But we expect to finish the Shanghai listing before the Olympic Games."
China Everbright Group's assets apparently totalled 800 billion yuan ($114 billion) by the close of 2007, with a profit of 14.8 billion yuan.