12 January 2017
At the beginning of 2017, ShineWing successfully assisted Jilin Jiutai Rural Commercial Bank Corporation Limited (Stock Code: 6122) (“Jiutai Rural Commercial Bank”) listed on the Main Board of The Stock Exchange of Hong Kong Limited on 12 January 2017 by issuing H-shares. Being the first Initial Public Offering (IPO) case in banking industry in 2017 and also the second rural commercial bank from China listed on the Main Board in Hong Kong, Jiutai Rural Commercial Bank raised funds of not less than HK$2,550 million (RMB$2,280 million).
Jiutai Rural Commercial Bank, a rural commercial bank in Northeast China, was named a “Model Rural Commercial Bank in China” by the China Banking Regulatory Commission in 2013 and 2015. Its principal businesses include corporate banking, retail banking and treasury operations. As of 30 June 2016, Jiutai Rural Commercial Bank had established 275 outlets in Jilin province and 78 outlets in other regions.
In 2016, ShineWing successfully assisted China Merchants Securities Co., Ltd., one of the top five IPOs in terms of funds raised in 2016, listed in Hong Kong, which is also our first H-share IPO case in sizable financial securities firms. This year, we have made another breakthrough in financial banking industry by acting as reporting accountants in this H-share listing engagement. The successful listing of Jiutai Rural Commercial Bank marks the first significant Chinese banking client of ShineWing whom we assisted to go listed in an international capital market. Our successful cases in the banking and securities industries further demonstrate the all-round capability of ShineWing in financial services.
The engagement team of Jiutai Rural Commercial Bank had leveraged the advantages of both ShineWing China and ShineWing Hong Kong, combining the professional knowledge and service experience across regions and complementing each other by effective communication. Once again, it creates synergy brought by the ShineWing network.
The H-share listing of Jiutai Rural Commercial Bank marks another milestone of ShineWing and also shows our capabilities and values in financial banking industry. This could also been seen as an achievement we made as a result of our commitment to financial services and international development throughout the years.
In the future, ShineWing will continue to enhance our technical and client-service capabilities, assisting more quality financial companies to realize larger business values and making more contributions to the international capital market.