Banking News
- Industrial Bank plans domestic IPO
Date: 8-Jan-2007 Sources: (Shenzhen Daily)
INDUSTRIAL Bank Co., which is part-owned by a unit of HSBC Holdings Plc., plans a domestic initial public offering (IPO) after shares of rival banks soared.
The China Securities Regulatory Commission's listing committee will meet today to review the Fujian-based bank's plan to sell as many as 1.33 billion new shares, according to documents posted on the commission's Web site. No details on price or timing were given. Industrial Bank would become the eighth bank quoted on the Shanghai and Shenzhen stock exchanges.
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