News Column

Industrial Bank Okayed for Offering Preferred Shares

September 3, 2014



FUZHOU, September 3, SinoCast -- Industrial Bank Co., Ltd. (SHSE: 601166) declared approval from the China Banking Regulatory Commission for private placement of no more than 300 million preferred shares to finance at most CNY 30 billion, which will be included into tier one capitals. Not more than 130 million preferred shares will be offered in 2014 to finance at most CNY 13 billion.

The above preferred shares will be offered through private placement in phases after getting approval from the China Banking Regulatory Commission and the China Securities Regulatory Commission.


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Source: Sinocast Banking & Credit Beat (China)


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