Bohai Bank readies for listing
CHINA Bohai Bank, one of the country’s 12 national joint-stock banks, is preparing for an initial public offering, Chairman Li Fuan said yesterday at the World Economic Forum in the northeastern city of Dalian.
By going for a market listing, Bohai Bank will join a growing number of the country’s mid-tier banks that have raised billions of dollars on the stock markets. They include the larger joint-stock banks China Merchants Bank and China Minsheng Banking Corp.
Li, previously a senior official at China’s banking regulator, said the bank was looking for foreign investors for the listing. Standard Chartered Bank (Hong Kong) Ltd is its second-biggest shareholder, with a 19.99 percent stake.
The maximum equity stake in a Chinese mainland bank that foreign institutions may own is capped at 20 percent for a single foreign investor and 25 percent for all foreign investors.
“Bohai Bank is going public and we will further open up to global investors,” Li said. He did not specify where the bank intended to list its shares.
Chinese Premier Li Keqiang said at the forum yesterday that Beijing would give foreign investors greater market access to services and industrial sectors as well as treat foreign and domestic firms equally.
“I hope what Premier Li Keqiang said this morning about relaxing restrictions on investment percentages held by foreign firms will further open up Bohai Bank during its listing process,” Li said.
The IPO could take place in the first half of 2018 and the bank is currently boosting capital internally, some domestic media outlets reported, citing Li speaking on the sidelines of the forum.
Bohai Bank, based in Tianjin, was the first Chinese-funded commercial bank to introduce overseas strategic investors at the establishment stage.
- About Us
- |
- Terms of Use
- |
-
RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔$粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.