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Chongqing Rural Commercial Bank to list shares in Shanghai

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Chongqing Rural Commercial Bank to list shares in Shanghai

ChongqingRural Commercial Bank Co. Ltd. plans to list its A shares on theShanghai Stock Exchange.

The bank is looking to issue up to 1,357,000,000 shares,representing 12.73% of its issued share capital.

The lender said April 28 that the proposed IPO will furtheroptimize its corporate governance, develop its financial platforms and improvethe liquidity of all shares held by its shareholders.

Proceeds from the IPO will be used to replenish the bank'scapital adequacy.

Chongqing Rural Commercial Bank previously listed its Hshares on the Hong Kong stock exchange in 2010.

The bank's A-share listing is subject to regulatory andshareholder approvals.