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2018 12-24

Grandall Advised Industrial Bank in its Non-public Offering

On 17 December 2018, the application filed by China Industrial Bank Co., Ltd. (the “Industrial Bank”) for its non-public offering of preference shares was passed and approved by the CSRC.

Founded in August 1988 and headquartered in Fuzhou, Fujian Province, the 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 February 5, 2007, the bank was listed on Shanghai Stock Exchange (Stock Code: 601166).  At present, it has become a national joint-stock commercial bank with sound governance, distinctive characteristics, great strength and quality service, staying stably among Global Top 30 Banks.     

In this non-public offering, the Industrial Bank intends to issue a limited number of 300 million shares, by which it will raise funds up to RMB 30 billion.  The money so raised will support the company’s sound development.

Grandall Shanghai Office has been retained as the issuer’s counsel with Mr. SUN Li, Ms. ZHANG Peipei and Mr. XU Yuxin as key lawyers providing professional legal service for the case.

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