Bonds News
- Shanghai News
Date: 16-Jan-2007 Sources: (Shenzhen Daily)
INDUSTRIAL Bank launched its initial public offering (IPO) of domestic currency A shares on the Shanghai Stock Exchange yesterday.
The mid-sized bank, based in the prosperous southern province of Fujian, plans to issue as many as 1.33 billion new A shares, equivalent to 25 percent of its enlarged share capital. Industrial Bank is nearly 16 percent owned by Hong Kong's Hang Seng Bank. They jointly operate a co-branded credit card business.
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