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Minsheng Bank may defer H-share listing
By Sun Min (China Daily)
Updated: 2004-11-25 09:00

China Minsheng Banking Corp may put off its H-share listing until next year.

The Beijing-based private lender issued a notice yesterday saying the board would apply to the general shareholders' meeting to extend its authorization of the bank's H-share listing plan for another 12 months.

The H-share issue plan was approved for the bank by the shareholders' general meeting on January 8 this year. The board and relevant parties were supposed to finish the project within an authorized period, normally 12 months.

However, as the deadline drew near, it was necessary to renew the resolution on the H-share issue, a bank spokesperson said yesterday.

A special shareholders' general meeting will be held in Beijing on December 24 to discuss the matter.

Senior bank officials said earlier that they hoped the H-share listing could be realized by the end of the year.

It is also expected that the scale of the H-share offering would be no more than 20 per cent of the bank's total shares.

Minsheng has already listed A shares on Shanghai Stock Exchange. The overseas listing is aimed at further increasing capital strength to fund future expansion.

Dong Wenbiao, president of Minsheng, said earlier this year that the bank would introduce a foreign strategic investor before the overseas listing.

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