Chinese bank China Everbright Bank Co. raised a total of $3 billion in its inital public offering at the Hong Kong Stock Exchange.

According to the Wall Street Journal, China Everbright decided to allocate more shares after the deal had closed on Friday. This has prompted to increase the size of the IPO from its base size of $2.6 billion.

China Everbright sold its shares at HK$3.98 per share, near the middle of its indicative range of HK$3.83 to HK$4.27. The Chinese bank has exercised an option to sell an additional 762 million shares on top of the base size of 5.08 billion shares. This has brought the fundraising size to $3 billion, a source told WSJ on Saturday.

China Everbright already has a Shanghai listing. It has sought to list in Hong Kong twice before. In 2011, it hoped to raise as much as $6 billion before pulling out in the second half of the year. China Everbright tried again in May last year, securing $1.2 billion worth of commitments from cornerstone and anchor investors before postponing its planned share sale, the report said.

Based on its IPO filing, China Everbright said that proceeds from the deal will be used to raise capital to meet stricter regulatory requirements implemented in global banks.