China Bohai Bank becomes 1st listed mainland bank of 2020

China Bohai Bank Co became the first Chinese mainland bank listed since the beginning of this year, raising about HK$13.47 billion ($1.74 billion) from an initial public offering in Hong Kong on Thursday at the offer price of HK$4.80 per share.

The bank said it will use the money raised to replenish capital and promote sustainable and healthy development of its business. It has nine cornerstone investors, led by Yichang HEC Health Pharmaceutical.

The core tier-1 capital adequacy ratio of the bank was 8.17 percent by Sept 30, down from 8.61 percent at the end of 2018. During the same period, its nonperforming loan ratio fell 0.07 percentage point to 1.77 percent.

By the end of 2019, the bank's total assets reached 1.12 trillion yuan ($160 billion), up 8 percent from the same period the previous year. Its net profit increased by 15.7 percent year-on-year to 8.2 billion yuan.

Apart from China Bohai Bank, no other banks were listed in the mainland and Hong Kong since the beginning of this year.

Currently, Dongguan Rural Commercial Bank Co, Weihai City Commercial Bank Co and Xinjiang Huihe Bank Co are still waiting to be listed on the main board of the Hong Kong stock exchange.

As of July 9, 19 banks, including Bank of Guangzhou Co, Chongqing Three Gorges Bank Co and Shanghai Rural Commercial Bank Co, were waiting to be listed on the A-share market, according to the China Securities Regulatory Commission.