City banks' IPOs top range
By Zhang Lu (China Daily)
Updated: 2007-07-17 09:46
"Both banks will enjoy annual growth of over 30 percent in net profit in the next three years," He said.
The Ningbo lender is expected to list its new shares on the Shenzhen Stock Exchange on July 23. Shares of Bank of Nanjing will be traded on Shanghai Stock Exchange, but it did not give a listing date.
"Successful listings of the two will encourage more city commercial banks to float shares on the local exchanges to boost their capital base and raise funds for business expansion," She of CITIC China Securities said.
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