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2017 01-19

Grandall Advised Industrial Bank in its Non-public Offering

On 11 January 2017, the application filed by the Industrial Bank (Stock Code: 601166, “IB”) for A-share non-public offering was passed and approved by the Issuance and Examination Committee of CSRC.

 

Founded in August 1988 and headquartered in Fuzhou, Fujian Province, Industrial Bank is one of the first batch of joint-stock commercial banks approved by the State Council and the People's Bank of China, and the first Equator Bank in China. On 5 February 2007, IB was listed on Shanghai Stock Exchange (Stock Code: 601166). At present, with a registered capital of 19.052 billion yuan, it has become a national joint-stock commercial bank with sound governance, distinctive characteristics, great strength and quality service, staying stably among Global Top 50 Banks.

 

IB intends to offer a limited number of 1,721,854,000 shares, and the funds so raised is up to RMB 25,999,995,400.

 

Grandall Shanghai Office has been retained as the issuer counsel with SUN Li, SHAN Ying, ZHANG Peipei and SHI Shi being key lawyers servicing the case.

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