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Huishang Bank sees further decline in public float

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Huishang Bank sees further decline in public float

Huishang BankCorp. Ltd.'s public float further declined below the requiredthreshold after a substantial shareholder acquired more Hong Kong-listed sharesof the bank.

The bank said its public float declined to 24.04% from24.12%, below the minimum requirement of 25%.

The decline follows Shanghai Soong Ching Ling Foundation'sacquisition of additional H shares through its unit Sept. 1.

Huishang Bank said it continues to consider to restore itspublic float, including promoting its listing in China, contacting majorshareholders to place down their shares as soon as practicable and issuing newH shares.