CCB offers shares to employees
9 July 2007
China Construction Bank (CCB) has announced an incentive plan to allow about 270,000 employees to acquire 800 million of its shares starting July 6, according to a statement issued by the bank, Shanghai Securities News reported (in Chinese). Under the plan, employees working for more than three years and other individuals approved by the board of directors or the senior management are able to buy or be given shares, which they must hold for at least three years before selling them. The plan will be administered by an independent trustee, according to the statement. CCB, which has a total of about 225 billion shares, is the first of the "Big Four" state-owned banks to offer such a scheme.