Bank of Shanghai plans to raise about 15 billion yuan ($2.42 billion) through an initial public offering (IPO) in Hong Kong this year to replenish capital, the official Shanghai Securities News reported Tuesday, citing an internal document distributed to shareholders.

The Chinese lender also plans to raise a similar amount of money by selling shares publicly in the Chinese mainland, the newspaper said.

Both listings are subject to regulatory approval, it added.

Bank of Shanghai and some other Chinese companies are looking to raise funds in overseas markets as China's securities regulator has frozen the domestic IPO market since last November.