(15 January 2007 – China) Second tier Chinese bank, Industrial Bank, is set to launch its initial public on the Shanghai Stock Exchange this week, trading in domestic currency A shares.Industrial Bank, which is located in the southern province of Fujian, one of China’s more prosperous regions, expects to issue some 1.33 billion new A shares, about a quarter of the bank’s enlarged share capital.
Hong Kong’s Hang Seng Bank owns almost 16 percent of the Chinese bank.