Bank of Shanghai Co. has appointed Citic Securities Co., Guotai Junan
Securities Co. and Shenyin & Wanguo Securities Co as underwriters
for its preliminary public offerings in China, laying the groundwork to
become the second-largest publicly traded city bank in the country.
Goldman Sachs Group Inc. was hired as financial adviser.
Bank of Shanghai, which has USD44.6 bn in assets, owns more than 200 outlets in Shanghai and runs branches in Ningbo, Nanjing and Hangzhou and plans to start operations in Tianjin and Chengdu this year. Bank of Beijing Co., Bank of Nanjing Co. and Bank of Ningbo Co. raised a combined RMB26.1 bn in domestic public offerings last year. Chongqing City Commercial Bank, Bank of Tianjin and Hangzhou City Commercial Bank are also working on first-time share sale plans, media reports.
China’s city banks of which there are currently 123, are reportedly
seeking funds to set up new branches beyond their borders to contend
with their larger, well-financed rivals.
News & Interviews 
(0 vote)
