A-share IPO’s of Four Commercial Banks Reviewed by China’s Securities Regulator in 2020

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China’s securities regulator is stepping up its processing of the IPO applications of domestic commercial banks.

The China Securities Regulatory Commission (CSRC) has recently commenced its reviews of two IPO applications made by domestic lenders – Shanghai Rural Commercial Bank (上海农商行) at the end of November, and Shandong province’s Qilu Bank (齐鲁银行)’s on 10 December.

CSRC has reviewed the IPO applications of four Chinese banks in 2020, including Bank of Xiamen and Bank of Chongqing in addition to Shanghai Rural Commercial and Qilu Bank.

Bank of Xiamen has already listed as an A-share, while Bank of Chongqing and Shanghai Rural Commercial have both passed CSRC’s reviews.

Bank of Chongqing previously listed as a H-share in Hong Kong, and Qilu Bank is currently listed on the National Equities Exchange and Quotations “New Third Board” for over-the-counter trading of stakes in smaller companies.

A total of 15 banks are waiting for their A-share listings, including 10 rural commercial banks, with many smaller, regional lenders believed to be on a precarious footing and in need of further capital injections.

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