Wing Lung Bank Ltd., the family-controlled Hong Kong lender whose stock has gained 52% this year, will likely choose the buyer for a majority stake next week, reports Bloomberg News.

Industrial & Commercial Bank of China Ltd., Australia & New Zealand Banking Group Ltd. and China Merchants Bank Co. are in final talks with Wing Lung's controlling shareholders on the price and terms of the acquisition, the people said, asking not to be identified before a decision is made.

Chairman Michael Wu, 71, and his cousins Patrick Wu and Philip Wu are seeking to sell a combined 53% stake in the 75-year-old lender. The deal, which would trigger a general offer, will value Wing Lung Bank at more than $4.8 billion, the people said. Wing Lung fell 0.3% at the midday break in Hong Kong, shaving the bank's market

The deal would mark the first acquisition of a Hong Kong- traded bank in more than four years. ICBC, the world's largest bank by market value, and China Merchants Bank are seeking to expand in Asia, using money raised in stock sales. For ANZ, led by former HSBC Holdings Plc executive Mike Smith, Wing Lung Bank offers a stepping stone into the fastest-growing major economy.