Banking News
- Guangdong Development Bank plans IPO
Date: 28-Jun-2007 Sources: (Shenzhen Daily)
GUANGDONG Development Bank Co. plans an initial public offering (IPO) in 2009 or 2010, the Caijing magazine reported on its Web site late Tuesday.
The bank disclosed the listing plan when shareholders met in Guangzhou on Tuesday to vote on its five-year development plan, but it didn't give more specific details, the magazine said. At the shareholders meeting, the bank's board said it is targeting a 1.67 billion yuan (US$219.74 million) net profit this year after posting a 624 million yuan net loss in 2006, the magazine said.
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