Another China bank to list
(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.
Hong Kong’s Hang Seng Bank owns almost 16 percent of the Chinese bank.
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