No short-term listing plan
20 March 2006
Bank of Communications has no plan to list shares in the mainland while limits on overseas investors remain, the bank's president said. Zhang Jianguo, speaking at a financial forum, said the Hong Kong-listed bank did not intend to list A-shares in the near future, but would eventually. �From a long-term point of view, we have this intention,� said Zhang. �But in the near term we have no concrete plans.� Bocom does not wish to list A-shares under current conditions, as this course of action would dilute the shareholding of HSBC Holding, which owns almost 20% of the Chinese bank. Though Bocom has regulatory approval to list shares on the mainland, domestic offerings have been on hold since May while non-tradable share reforms proceed.
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