Funds News
- Minsheng seeks more funds for expansion
Date: 27-Nov-2007 Sources: (Shenzhen Daily)
CHINA Minsheng Banking Corp., the nation's first privately owned bank, expects to raise more funds to support its international expansion in the next few years and is not ruling out an overseas listing, the Shanghai Securities News reported yesterday, quoting Wang Tongshi, the bank's president.
Wang said the Shanghai-listed bank has adequate funding for the moment after a private placement of 3.5 billion A shares earlier this year. He said that banking regulators will tighten macroeconomic policy next year and expects commercial banks to focus on intermediary business rather than interest income.
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