China's Huishang Bank Corp. Ltd. started flat during its Hong Kong trading debut on November 12, after raising $1.2 billion in the island city's biggest bank IPO in three years.

Huishang Bank shares closed at HK$3.6 ($0.464) on its first trading day, according to Hong Kong stock exchange data. The IPO price was set at HK$3.53 ($0.459) per share.

Based in the booming industrial heartland of Anhui Province, Huishang Bank became the second Chinese local lender, after the Bank of Chongqing, to raise equity funds to bolster capital in the past month.

Other Chinese lenders, including China Everbright Bank, the Bank of Beijing and China Guangfa Bank, are closely watching Huishang's debut, as they are among the companies seeking to raise around $11 billion through Hong Kong offerings.

Huishang Bank had assets of 324.2 billion yuan ($53.2 billion), loans of 163.8 billion yuan ($26.9 billion) and deposits of 239.5 billion yuan ($39.3 billion) at the end of 2012, ranking first among city commercial banks in central China.