China's Bank of Qingdao Co. Ltd. plans to raise up to 2.04 billion yuan in its proposed listing on the Shenzhen stock exchange.
The lender will offer up to 450,977,251 A-shares at 4.52 yuan apiece between Jan. 4, 2019, and Jan. 8, 2019, according to a Dec. 19 release.
The bank said it would use the net proceeds of up to 1.96 billion yuan to boost its core Tier 1 capital and strengthen its risk management capacities, among other things.
Bank of Qingdao is listed in Hong Kong.
As of Dec. 19, US$1 was equivalent to 6.89 Chinese yuan.