Friday, March 25, 2005

Bank_Minsheng gets approvals for $880 million Hong Kong sale

China Minsheng Banking group, China's first privately owned bank, has got approval for it $880 million from regulators to sell shares in HK, reported Bloomberg after the bank announced it this morning.

The China Securities Regulatory Commission approved a sale of 1.3 billion shares, or one fifth of its outstanding stock, Minsheng said in a statement to the Shanghai stock exchange(in Chinese) today.

Bloomberg reported that Wang Jinxu, who arranges share sales at Everbright Securities Co. in Shanghai said that Market conditions might determine the timing for the bank finally going listed.

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