Bank begins IPO roadshow

SHANGHAI: The Industrial Bank Co, a mid-sized joint stock bank, kicked off its roadshow yesterday, the first domestic initial public offering (IPO) for 2007.

The bank, based in East China's Fujian Province, plans to issue as many as 1.33 billion new local currency A shares on the Shanghai Stock Exchange to fund its expansion.

The IPO, which has been in the pipeline for more than two years, would make the Industrial Bank the eighth commercial bank to be listed on the domestic stock market.