皇冠体育app

  Home>News Center>皇冠体育app
       
 

Bank of 皇冠体育app IPO could take place in 2005
(AP)
Updated: 2005-08-12 17:16

A top Bank of 皇冠体育app executive confirmed Friday that talks are underway with several foreign parties keen to buy a stake in the bank, one of 皇冠体育app's four big state commercial lenders, but declined to give details, the Associated Press reported.

Executive vice president and managing director Zhang Yanling also said the bank's planned initial public offering in Hong Kong could take place as early as the end of this year if market conditions are positive.

"Maybe at the end of this year or early next year. We haven't decided yet, it depends on the market," she told reporters on the sidelines of a Malaysia-皇冠体育app business forum in Kuala Lumpur, Malaysia when asked about the proposed listing.

"If we want to enlarge our business, IPO is a good way," she said.

A major Chinese financial magazine has reported that Bank of 皇冠体育app is considering selling stakes that would total nearly a quarter, or $6 billion, of its equity.

Royal Bank of Scotland Group PLC and Singapore's Temasek Holdings will each take a 9.9 percent stake, while UBS and the Asian Development Bank will together hold 5 percent equity, Caijing magazine reported Monday.

Combined, the stakes would be close to the maximum total of 25 percent allowed to foreign investors in any single state bank.

Asked if UBS AG was one of the interested parties, Zhang said: "Maybe, so many foreign investors have shown interest."

Foreign lenders have been eager to gain footholds in the Chinese market as they gear up for a full opening of the country's banking industry next year.

UBS has in June said it might invest about $500 million in a strategic stake in Bank of 皇冠体育app, which has been seeking foreign partners to help restructure and improve its competitiveness.

Zhang said Bank of 皇冠体育app sees many opportunities in Southeast Asia, especially in the area of trade financing, international settlement for exports and imports, and remittances.

She said the bank is already operating in most countries in the region, with Singapore being its biggest market with 40 branches. In Malaysia where it has only one branch, she said, there are plans to expand its network but didn't elaborate.



Chimpanzee suffers from smoking addiction
The tide is high but they're holding on
皇冠体育app, Russia military drills stage landing
  Today's Top News     Top 皇冠体育app News
 

EU, 皇冠体育app begin talks on textile row

 

   
 

Joint forces storm beaches at climax of drills

 

   
 

Taiwan students on mainland given level fees

 

   
 

Japan, 皇冠体育app to jointly develop 4G mobile

 

   
 

皇冠体育app says market to decide yuan's value

 

   
 

CCTV sends record invitations for festival

 

   
  Temasek close to buying BOC stake - FT
   
  N. Korea nuclear talks likely as planned
   
  Japan, 皇冠体育app to jointly develop 4G mobile
   
  Two bus accidents claim 33, injure 56
   
  NPC debates further raising tax threshold
   
  Farmers protest over alleged lead poisoning
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  News Talk  
   
Advertisement