Banking News
- First rural bank IPO in the pipeline
Date: 11-Dec-2007 Sources: (Shenzhen Daily)
RURAL Commercial Bank of Zhangjiagang was likely to become the first rural lender in China to conduct an initial public offering (IPO), Xinhua reported over the weekend.
The bank, based in Zhangjiagang in eastern Jiangsu Province, had gained approval from the China Banking Regulatory Commission (CBRC) for its share offering, the report said, citing Zang Jingfan, director of the CBRC's cooperation department. The report didn't disclose other details about the share offering plan. The bank was waiting for the final approval for its IPO from China Securities Regulatory Commission.
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