trending Market Intelligence /marketintelligence/en/news-insights/trending/shpeO1kkg7cCsaF5UqTUvg2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Guangzhou Rural Commercial Bank hires firms to handle Hong Kong IPO

Street Talk Episode 68 - As many investors zig away from bank stocks, 2 vets in the space zag toward them

Street Talk Episode 66 - Community banks tap the debt markets while the getting is good

Street Talk Episode 67 - Veteran investor tabs Mick Mulvaney to help with latest financial stock-focused fund

Street Talk Episode 65 - Deferral practices trap US bank portfolios in purgatory

Guangzhou Rural Commercial Bank hires firms to handle Hong Kong IPO

has hiredfour firms to manage a Hong Kong IPO that may fetch as much as US$1.5 billion,according to three people familiar with the situation.

Thebank mandatedABC International HoldingsLtd., CCBInternational (Holdings) Ltd., China International Capital Corp. (Hong Kong) Ltd. andChina Merchants Securities (HK)Co. Ltd. to arrange aHong Kong sharesale.

Thelender aims to list its shares in the city bythe end of this year, one of the people told S&P Global Market Intelligence. The company could not be reached immediately for comment.

The Wall Street Journal, citing unnamed people, in Maybroke the listing plan, while GlobalCapitalon July 20 reported the appointment of lead managers.

GuangzhouRural Commercial Bank mayraise US$1 billion to US$1.50 billion, assuming it sells 25% of stock near bookvalue, a common valuation for Chinese commercial banks going public, one of thepeople said. The lender had 35.70 billion yuan, or about US$5.5 billion, in netassets as of the end of 2015.

A HongKong IPO would make GuangzhouRural Commercial Bank thesecond Chinese rural lender to tap the city's equity market, after raised HK$10.12 billion innet proceeds therein 2010.

Banksin China, particularly smaller ones, are seeking ways to build capital buffers astighter Basel IIIrules loom. Nonsystemically important lenders in the country must have aminimum capital adequacy ratio of 10.5% from 2019.

GuangzhouRural Commercial Bank'scapital adequacy ratio dropped to 12.76% as of the end of 2015 from 14.45% ayear earlier, as nonperforming loans swelled and net profit declined.

As of July 22, US$1 wasequivalent to 6.68 Chinese yuan.