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July 19, 2016

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Bank of Zhengzhou eyes mainland IPO

BANK of Zhengzhou plans to follow up on its Hong Kong listing by going public on China’s mainland, one of many forthcoming initial public offerings that Chinese regional lenders are planning to seek capital amid cooling profit.

The lender, which raised US$656 million in its Hong Kong IPO last December, yesterday said it seeks to issue no more than 600 million shares at a nominal price of 1 yuan (15 US cents) per share either in Shanghai or Shenzhen “to further broaden the capital replenishment channels.”


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